Assenagon Asset Management S.A. Sells 1,908 Shares of Hubbell Inc $HUBB

Assenagon Asset Management S.A. decreased its position in shares of Hubbell Inc (NYSE:HUBB) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,042 shares of the industrial products company’s stock after selling 1,908 shares during the period. Assenagon Asset Management S.A.’s holdings in Hubbell were worth $9,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in shares of Hubbell during the 2nd quarter valued at $29,000. Cullen Frost Bankers Inc. increased its position in Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after buying an additional 68 shares in the last quarter. Johnson Financial Group Inc. raised its stake in Hubbell by 185.4% in the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after buying an additional 89 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Hubbell in the second quarter valued at about $57,000. Finally, MUFG Securities EMEA plc acquired a new stake in Hubbell in the second quarter worth about $65,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the business’s 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 completion of the transaction, the insider directly owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John F. Malloy acquired 435 shares of the stock in a transaction on Monday, November 17th. The stock was bought at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the transaction, the director owned 19,085 shares in the company, valued at approximately $8,192,045.40. This represents a 2.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HUBB shares. Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Barclays raised their target price on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $488.43.

Hubbell Stock Up 1.7%

HUBB stock opened at $442.37 on Friday. The company has a market capitalization of $23.51 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 2.44 and a beta of 1.01. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $484.26. The firm’s fifty day simple moving average is $439.45 and its 200-day simple moving average is $428.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85.

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

Hubbell Increases Dividend

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

Hubbell Company Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.