Hubbell Inc $HUBB Shares Sold by Covea Finance

Covea Finance decreased its stake in Hubbell Inc (NYSE:HUBB) by 11.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 63,558 shares of the industrial products company’s stock after selling 8,150 shares during the quarter. Covea Finance’s holdings in Hubbell were worth $28,227,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of HUBB. Envestnet Asset Management Inc. raised its stake in shares of Hubbell by 4.1% during the third quarter. Envestnet Asset Management Inc. now owns 89,729 shares of the industrial products company’s stock valued at $38,611,000 after purchasing an additional 3,542 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Hubbell by 64.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,879 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,514 shares during the period. Nordea Investment Management AB grew its holdings in Hubbell by 15.7% during the 3rd quarter. Nordea Investment Management AB now owns 203,399 shares of the industrial products company’s stock valued at $87,333,000 after purchasing an additional 27,576 shares in the last quarter. Walter Public Investments Inc. grew its holdings in Hubbell by 33.3% during the 3rd quarter. Walter Public Investments Inc. now owns 35,086 shares of the industrial products company’s stock valued at $15,098,000 after purchasing an additional 8,774 shares in the last quarter. Finally, Troy Asset Management Ltd increased its stake in Hubbell by 5.8% during the 3rd quarter. Troy Asset Management Ltd now owns 343,293 shares of the industrial products company’s stock worth $147,722,000 after buying an additional 18,767 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB stock opened at $475.97 on Friday. The stock has a market capitalization of $25.30 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 2.49 and a beta of 1.00. Hubbell Inc has a one year low of $299.42 and a one year high of $533.80. The company’s 50-day simple moving average is $494.97 and its 200-day simple moving average is $458.75. 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 (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $4.73 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $4.10 earnings per share. Hubbell’s quarterly revenue was up 11.9% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. Equities analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, February 27th. Hubbell’s payout ratio is 34.07%.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 25,233 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $498.97, for a total transaction of $12,590,510.01. Following the completion of the sale, the chief executive officer owned 64,420 shares in the company, valued at $32,143,647.40. The trade was a 28.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Nero Jonathan M. Del sold 2,245 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $500.60, for a total transaction of $1,123,847.00. Following the sale, the vice president directly owned 2,769 shares in the company, valued at $1,386,161.40. This trade represents a 44.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In 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 insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on HUBB shares. Mizuho set a $575.00 price objective on shares of Hubbell in a report on Wednesday, February 4th. Morgan Stanley lifted their target price on Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Wells Fargo & Company boosted their price target on Hubbell from $515.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Evercore increased their price target on Hubbell from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Barclays raised their price objective on Hubbell from $465.00 to $481.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $536.00.

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.