Commonwealth Equity Services LLC Purchases 1,274 Shares of Hubbell Inc $HUBB

Commonwealth Equity Services LLC grew its position in Hubbell Inc (NYSE:HUBB) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,257 shares of the industrial products company’s stock after purchasing an additional 1,274 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Hubbell were worth $6,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Unique Wealth LLC increased its stake in Hubbell by 2.6% in the 3rd quarter. Unique Wealth LLC now owns 897 shares of the industrial products company’s stock worth $386,000 after buying an additional 23 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Hubbell by 2.0% in the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 24 shares during the period. Blue Trust Inc. grew its position in shares of Hubbell by 5.5% during the third quarter. Blue Trust Inc. now owns 480 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 25 shares in the last quarter. DB Fitzpatrick & Co Inc raised its stake in Hubbell by 0.6% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company’s stock valued at $1,776,000 after purchasing an additional 26 shares during the period. Finally, Chicago Capital LLC lifted its holdings in Hubbell by 0.5% in the 2nd quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company’s stock worth $2,504,000 after purchasing an additional 29 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on HUBB. Wells Fargo & Company upped their target price on shares of Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. lifted their target price on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. UBS Group reiterated a “neutral” rating and set a $450.00 price target on shares of Hubbell in a report on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

Hubbell Trading Up 2.0%

NYSE:HUBB opened at $482.12 on Wednesday. The stock has a market capitalization of $25.62 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.40 and a beta of 1.02. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $445.44 and a 200 day moving average of $436.22.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm posted $4.49 earnings per share. The business’s quarterly 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 fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a dividend of $1.42 per share. 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 1.2%. Hubbell’s payout ratio is presently 35.24%.

Insider Activity

In other news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 4,785 shares in the company, valued at $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of Hubbell stock in a transaction that occurred 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 completion of the sale, 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. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.76% of the company’s stock.

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.