Hubbell Inc $HUBB Position Trimmed by Arizona State Retirement System

Arizona State Retirement System decreased its holdings in Hubbell Inc (NYSE:HUBB) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,570 shares of the industrial products company’s stock after selling 1,182 shares during the period. Arizona State Retirement System’s holdings in Hubbell were worth $6,471,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Hubbell during the 3rd quarter valued at $162,309,000. Massachusetts Financial Services Co. MA grew its stake in Hubbell by 15.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after purchasing an additional 226,856 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Hubbell by 355.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 222,485 shares of the industrial products company’s stock worth $95,738,000 after purchasing an additional 173,668 shares during the last quarter. Boston Partners increased its position in Hubbell by 30.7% in the 3rd quarter. Boston Partners now owns 736,469 shares of the industrial products company’s stock worth $316,521,000 after purchasing an additional 172,990 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Hubbell during the 2nd quarter worth about $68,164,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Hubbell news, VP Nero Jonathan M. Del sold 2,245 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $500.60, for a total transaction of $1,123,847.00. Following the completion of the sale, the vice president directly owned 2,769 shares in the company, valued at $1,386,161.40. This represents a 44.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 25,233 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $498.97, for a total value of $12,590,510.01. Following the completion of the sale, the chief executive officer directly owned 64,420 shares in the company, valued at approximately $32,143,647.40. This represents a 28.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 34,689 shares of company stock valued at $17,407,395. 0.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HUBB has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research note on Thursday, January 22nd. JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $478.00 to $532.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Barclays lifted their target price on shares of Hubbell from $465.00 to $481.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. Mizuho set a $575.00 target price on shares of Hubbell in a research report on Wednesday, February 4th. Finally, Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Sunday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $533.50.

Hubbell Stock Up 0.2%

Shares of HUBB stock opened at $554.16 on Monday. The stock’s 50 day simple moving average is $507.58 and its 200 day simple moving average is $474.28. Hubbell Inc has a twelve month low of $341.03 and a twelve month high of $565.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.72. The company has a market capitalization of $29.46 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.79 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 analysts’ consensus estimates 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 analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the business earned $4.10 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. As a group, research analysts predict that Hubbell Inc will post 19.79 EPS for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $1.42 dividend. The ex-dividend date is Friday, May 29th. This represents a $5.68 dividend on an annualized basis and a yield of 1.0%. Hubbell’s dividend payout ratio (DPR) is presently 34.07%.

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.