Assenagon Asset Management S.A. Sells 5,088 Shares of Hubbell Inc $HUBB

Assenagon Asset Management S.A. trimmed its holdings in shares of Hubbell Inc (NYSE:HUBB) by 22.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,954 shares of the industrial products company’s stock after selling 5,088 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Hubbell were worth $7,974,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HUBB. Hantz Financial Services Inc. grew its stake in Hubbell by 141.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Harbor Investment Advisory LLC increased its position in shares of Hubbell by 630.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 73 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 63 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Hubbell during the third quarter valued at approximately $33,000. Mather Group LLC. purchased a new stake in shares of Hubbell in the third quarter valued at approximately $37,000. Finally, Grove Bank & Trust boosted its holdings in shares of Hubbell by 104.9% in the fourth quarter. Grove Bank & Trust now owns 84 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 43 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on HUBB shares. Morgan Stanley raised their price objective on Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 11th. Stephens reiterated an “overweight” rating and issued a $550.00 target price on shares of Hubbell in a report on Thursday, February 5th. Wells Fargo & Company increased their price target on Hubbell from $515.00 to $550.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Mizuho set a $575.00 price target on Hubbell in a research note on Wednesday, February 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $536.00.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 2,601 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $523.73, for a total value of $1,362,221.73. Following the completion of the sale, the insider directly owned 2,592 shares in the company, valued at approximately $1,357,508.16. This trade represents a 50.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 25,233 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was 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 of the company’s stock, valued at approximately $32,143,647.40. This represents a 28.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 34,689 shares of company stock valued at $17,407,395. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Stock Down 0.2%

NYSE:HUBB opened at $480.91 on Friday. The company’s 50-day simple moving average is $496.11 and its 200-day simple moving average is $460.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.72. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $533.80. The stock has a market capitalization of $25.57 billion, a P/E ratio of 28.85, a P/E/G ratio of 2.43 and a beta of 1.00.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $4.73 EPS for the quarter, topping the consensus estimate of $4.70 by $0.03. Hubbell had a net margin of 15.29% and a return on equity of 27.45%. 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 previous year, the business posted $4.10 EPS. Hubbell’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. On average, equities analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, February 27th. Hubbell’s payout ratio is 34.07%.

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.