1832 Asset Management L.P. Invests $2.24 Million in Hubbell Inc $HUBB

1832 Asset Management L.P. bought a new stake in shares of Hubbell Inc (NYSE:HUBB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,482 shares of the industrial products company’s stock, valued at approximately $2,239,000.

Several other large investors have also recently modified their holdings of HUBB. ASR Vermogensbeheer N.V. purchased a new stake in shares of Hubbell during the 1st quarter valued at $959,000. Charles Schwab Investment Management Inc. boosted its holdings in Hubbell by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 319,990 shares of the industrial products company’s stock valued at $105,888,000 after purchasing an additional 8,342 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Hubbell by 13.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 96,047 shares of the industrial products company’s stock valued at $31,783,000 after acquiring an additional 11,211 shares in the last quarter. Citigroup Inc. boosted its holdings in Hubbell by 40.9% during the first quarter. Citigroup Inc. now owns 70,157 shares of the industrial products company’s stock worth $23,216,000 after buying an additional 20,369 shares in the last quarter. Finally, National Bank of Canada FI grew its position in shares of Hubbell by 61.1% during the 1st quarter. National Bank of Canada FI now owns 40,494 shares of the industrial products company’s stock valued at $13,400,000 after acquiring an additional 15,361 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB stock opened at $440.51 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $23.41 billion, a P/E ratio of 27.33, a PEG ratio of 2.43 and a beta of 1.01. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $484.26. The business has a 50 day simple moving average of $434.81 and a 200-day simple moving average of $424.49.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned $4.49 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date is Friday, November 28th. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

Insider Activity

In related news, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the sale, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $470.32, for a total transaction of $945,813.52. Following the completion of the transaction, the insider owned 3,243 shares of the company’s stock, valued at $1,525,247.76. This represents a 38.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on HUBB shares. UBS Group assumed coverage on shares of Hubbell in a research report on Thursday, November 20th. They issued a “neutral” rating and a $450.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Barclays raised their price objective on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $474.00.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.