NorthCrest Asset Manangement LLC Sells 4,213 Shares of Hubbell Inc $HUBB

NorthCrest Asset Manangement LLC reduced its holdings in Hubbell Inc (NYSE:HUBB) by 22.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,763 shares of the industrial products company’s stock after selling 4,213 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Hubbell were worth $6,096,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its position in shares of Hubbell by 400.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 68 shares during the last quarter. Mather Group LLC. bought a new position in Hubbell during the third quarter worth about $37,000. Johnson Financial Group Inc. grew its position in shares of Hubbell by 185.4% during the 2nd quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock worth $56,000 after buying an additional 89 shares during the period. CYBER HORNET ETFs LLC bought a new stake in shares of Hubbell in the 2nd quarter valued at about $57,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Hubbell in the 2nd quarter valued at approximately $65,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Up 1.2%

Hubbell stock opened at $489.92 on Tuesday. The company has a market cap of $26.04 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 2.48 and a beta of 1.02. The firm has a 50-day moving average of $447.13 and a 200-day moving average of $438.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85. Hubbell Inc has a one year low of $299.42 and a one year high of $497.95.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating the consensus estimate of $4.98 by $0.19. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $1.42 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend 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%.

Insider Buying and Selling

In other news, Director John F. Malloy bought 435 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were bought at an average cost of $429.24 per share, with a total value of $186,719.40. Following the acquisition, the director owned 19,085 shares in the company, valued at $8,192,045.40. This trade represents 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 accessible through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the firm’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 completion of the sale, the insider owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This trade represents a 34.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of analyst reports. Morgan Stanley set a $515.00 price objective on shares of Hubbell in a report on Wednesday, January 7th. Mizuho upped their price objective on shares of Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Evercore ISI assumed coverage on Hubbell in a report on Monday, December 15th. They set an “outperform” rating and a $575.00 target price on the stock. Barclays increased their price target on Hubbell from $456.00 to $465.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $497.25.

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.