CIBC Bancorp USA Inc. Takes $7.46 Million Position in Hubbell Inc $HUBB

CIBC Bancorp USA Inc. purchased a new position in shares of Hubbell Inc (NYSE:HUBB) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 17,340 shares of the industrial products company’s stock, valued at approximately $7,462,000.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of Hubbell by 4.1% during the third quarter. Envestnet Asset Management Inc. now owns 89,729 shares of the industrial products company’s stock worth $38,611,000 after buying an additional 3,542 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Hubbell by 64.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,879 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 1,514 shares during the period. Nordea Investment Management AB increased its position in Hubbell by 15.7% during the 3rd quarter. Nordea Investment Management AB now owns 203,399 shares of the industrial products company’s stock valued at $87,333,000 after purchasing an additional 27,576 shares during the period. Walter Public Investments Inc. raised its stake in Hubbell by 33.3% during the third quarter. Walter Public Investments Inc. now owns 35,086 shares of the industrial products company’s stock worth $15,098,000 after buying an additional 8,774 shares during the last quarter. Finally, Troy Asset Management Ltd raised its position in shares of Hubbell by 5.8% in the 3rd quarter. Troy Asset Management Ltd now owns 343,293 shares of the industrial products company’s stock worth $147,722,000 after acquiring an additional 18,767 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 2,601 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $523.73, for a total value of $1,362,221.73. Following the completion of the transaction, the insider directly owned 2,592 shares in the company, valued at $1,357,508.16. This trade represents a 50.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gerben Bakker sold 25,233 shares of Hubbell stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $498.97, for a total transaction of $12,590,510.01. Following the transaction, the chief executive officer directly owned 64,420 shares of the company’s stock, valued at approximately $32,143,647.40. This trade represents a 28.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 34,689 shares of company stock worth $17,407,395. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $478.00 to $532.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a report on Thursday, January 22nd. Stephens reiterated an “overweight” rating and issued a $550.00 price objective on shares of Hubbell in a research note on Thursday, February 5th. Finally, Barclays lifted their target price on shares of Hubbell from $465.00 to $481.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $536.00.

Hubbell Price Performance

Shares of NYSE HUBB opened at $475.97 on Friday. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $533.80. The company’s 50-day moving average is $494.97 and its 200 day moving average is $458.75. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.72 and a quick ratio of 1.00. The stock has a market capitalization of $25.30 billion, a P/E ratio of 28.55, a P/E/G ratio of 2.49 and a beta of 1.00.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 3rd. The industrial products company reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.03. Hubbell had a return on equity of 27.45% and a net margin of 15.29%.The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company earned $4.10 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. On average, sell-side analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $5.68 annualized dividend and a yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is currently 34.07%.

Hubbell 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.