NewEdge Wealth LLC Makes New $745,000 Investment in Hubbell Inc $HUBB

NewEdge Wealth LLC purchased a new stake in Hubbell Inc (NYSE:HUBB) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,424 shares of the industrial products company’s stock, valued at approximately $745,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Jones Financial Companies Lllp increased its stake in Hubbell by 171.9% in the 1st quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company’s stock valued at $795,000 after buying an additional 1,518 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Hubbell by 18.9% during the 1st quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company’s stock worth $408,000 after buying an additional 196 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Hubbell by 271.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after buying an additional 155 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Hubbell in the 1st quarter valued at about $599,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Hubbell by 31.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 468 shares of the industrial products company’s stock valued at $191,000 after acquiring an additional 111 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HUBB has been the topic of a number of analyst reports. Weiss Ratings cut Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Wells Fargo & Company boosted their target price on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. UBS Group reiterated a “neutral” rating and issued a $515.00 price target on shares of Hubbell in a research note on Tuesday, June 16th. Stephens raised their target price on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, Robert W. Baird started coverage on Hubbell in a research report on Thursday. They set an “outperform” rating and a $550.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $553.89.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $470.69 on Friday. The firm has a 50 day simple moving average of $495.92 and a 200 day simple moving average of $498.43. The company has a market cap of $24.87 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.30 and a beta of 0.90. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business earned $4.93 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Research analysts predict that Hubbell Inc will post 20.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. Hubbell’s dividend payout ratio (DPR) is presently 33.63%.

Insider Buying and Selling at Hubbell

In other news, VP Nero Jonathan M. Del sold 547 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares of the company’s stock, valued at $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.

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.