Massachusetts Financial Services Co. MA Buys 226,856 Shares of Hubbell Inc $HUBB

Massachusetts Financial Services Co. MA raised its stake in shares of Hubbell Inc (NYSE:HUBB) by 15.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,655,746 shares of the industrial products company’s stock after purchasing an additional 226,856 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Hubbell were worth $712,484,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in HUBB. Resonant Capital Advisors LLC grew its position in Hubbell by 5.8% during the third quarter. Resonant Capital Advisors LLC now owns 948 shares of the industrial products company’s stock worth $408,000 after buying an additional 52 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Hubbell by 4.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 2,608 shares of the industrial products company’s stock worth $1,122,000 after acquiring an additional 105 shares during the period. Occidental Asset Management LLC grew its holdings in shares of Hubbell by 1.7% during the 3rd quarter. Occidental Asset Management LLC now owns 12,225 shares of the industrial products company’s stock worth $5,260,000 after purchasing an additional 202 shares in the last quarter. Pinnacle Financial Partners Inc raised its stake in shares of Hubbell by 10.6% in the third quarter. Pinnacle Financial Partners Inc now owns 969 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 93 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its position in Hubbell by 6.6% in the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,821 shares of the industrial products company’s stock worth $1,644,000 after purchasing an additional 238 shares during the period. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other news, Director John F. Malloy purchased 435 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the acquisition, the director directly owned 19,085 shares in the company, valued at approximately $8,192,045.40. The trade was a 2.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 of the company’s stock, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group reissued a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, December 12th. Wells Fargo & Company raised their price target on shares of Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Mizuho upped their price objective on Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. increased 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. Finally, Wall Street Zen lowered Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Hubbell Price Performance

Shares of HUBB stock opened at $489.92 on Friday. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $497.95. The stock has a market capitalization of $26.04 billion, a PE ratio of 30.39, a PEG ratio of 2.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36. The stock’s fifty day moving average is $446.57 and its 200-day moving average is $437.57.

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 the consensus estimate of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company earned $4.49 EPS. The firm’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. Equities research analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a $1.42 dividend. This is an increase 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%. The ex-dividend date of this dividend was Friday, November 28th. Hubbell’s dividend payout ratio (DPR) is 35.24%.

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.