Exchange Traded Concepts LLC Acquires 1,116 Shares of Hubbell Inc $HUBB

Exchange Traded Concepts LLC raised its holdings in shares of Hubbell Inc (NYSE:HUBB) by 15.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,428 shares of the industrial products company’s stock after purchasing an additional 1,116 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Hubbell were worth $3,627,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HUBB. McKinley Carter Wealth Services Inc. boosted its holdings in shares of Hubbell by 16.7% during the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after acquiring an additional 2,843 shares during the period. Belpointe Asset Management LLC bought a new position in shares of Hubbell during the second quarter worth approximately $320,000. Venturi Wealth Management LLC acquired a new stake in Hubbell during the 2nd quarter worth approximately $490,000. Zurich Insurance Group Ltd FI acquired a new stake in Hubbell during the 1st quarter worth approximately $1,423,000. Finally, Beacon Financial Group bought a new stake in Hubbell in the 2nd quarter valued at $262,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HUBB has been the topic of several recent research reports. Barclays increased 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 shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Wells Fargo & Company lifted their price objective on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Mizuho boosted their price objective on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, UBS Group reaffirmed a “neutral” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, December 12th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $488.43.

Hubbell Trading Up 0.1%

Shares of Hubbell stock opened at $456.28 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $484.26. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 2.51 and a beta of 1.01. The firm’s 50-day moving average price is $441.11 and its two-hundred day moving average price is $429.47.

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

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a $1.42 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is 35.24%.

Insider Activity at Hubbell

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

About Hubbell

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.