Perigon Wealth Management LLC Buys Shares of 12,540 Hubbell Inc $HUBB

Perigon Wealth Management LLC purchased a new stake in shares of Hubbell Inc (NYSE:HUBB) in the third quarter, according to its most recent filing with the SEC. The firm purchased 12,540 shares of the industrial products company’s stock, valued at approximately $5,396,000.

A number of other institutional investors and hedge funds have also modified their holdings of HUBB. Benjamin Edwards Inc. raised its holdings in Hubbell by 2.0% during the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 24 shares during the last quarter. Blue Trust Inc. increased its position in shares of Hubbell by 5.5% in the third quarter. Blue Trust Inc. now owns 480 shares of the industrial products company’s stock valued at $207,000 after buying an additional 25 shares in the last quarter. DB Fitzpatrick & Co Inc increased its position in shares of Hubbell by 0.6% in the second quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company’s stock valued at $1,776,000 after buying an additional 26 shares in the last quarter. Chicago Capital LLC raised its stake in shares of Hubbell by 0.5% during the 2nd quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company’s stock worth $2,504,000 after buying an additional 29 shares during the last quarter. Finally, Klingman & Associates LLC boosted its position in shares of Hubbell by 1.2% in the 2nd quarter. Klingman & Associates LLC now owns 2,496 shares of the industrial products company’s stock worth $1,019,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on HUBB shares. UBS Group restated a “neutral” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, December 12th. Wall Street Zen cut shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Monday. Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. Wells Fargo & Company increased their target price on Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their price target on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $488.43.

Hubbell Stock Down 0.4%

Shares of NYSE HUBB opened at $454.56 on Monday. The firm has a market cap of $24.16 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $484.26. The firm’s 50 day moving average price is $442.23 and its 200 day moving average price is $430.67.

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, beating the consensus estimate of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted $4.49 EPS. Hubbell’s revenue was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

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

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 2,011 shares of Hubbell stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $470.32, for a total value of $945,813.52. Following the completion of the sale, the insider owned 3,243 shares in the company, valued at $1,525,247.76. The trade was a 38.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the transaction, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.76% of the stock is owned by corporate insiders.

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.