Hubbell Inc $HUBB Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in Hubbell Inc (NYSE:HUBB) by 5.4% in the fourth quarter, Holdings Channel reports. The fund owned 294,002 shares of the industrial products company’s stock after selling 16,743 shares during the period. Legal & General Group Plc’s holdings in Hubbell were worth $130,569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in shares of Hubbell by 3.6% in the 3rd quarter. State Street Corp now owns 2,261,944 shares of the industrial products company’s stock worth $973,337,000 after acquiring an additional 78,539 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Hubbell by 18.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,045,931 shares of the industrial products company’s stock worth $450,075,000 after acquiring an additional 163,626 shares during the last quarter. Boston Partners increased its stake in shares of Hubbell by 30.7% in the 3rd quarter. Boston Partners now owns 736,469 shares of the industrial products company’s stock worth $316,521,000 after acquiring an additional 172,990 shares during the last quarter. Troy Asset Management Ltd increased its stake in shares of Hubbell by 60.7% in the 4th quarter. Troy Asset Management Ltd now owns 551,620 shares of the industrial products company’s stock worth $244,980,000 after acquiring an additional 208,327 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Hubbell by 1.1% in the 3rd quarter. Northern Trust Corp now owns 530,272 shares of the industrial products company’s stock worth $228,181,000 after acquiring an additional 5,806 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HUBB. Wells Fargo & Company raised their target price on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Evercore increased their price target on Hubbell from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. raised their price objective on Hubbell from $478.00 to $532.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Mizuho set a $575.00 price objective on Hubbell in a research report on Wednesday, February 4th. Finally, Barclays raised their price objective on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $546.25.

Hubbell Stock Down 2.3%

Shares of NYSE:HUBB opened at $473.22 on Friday. The business has a 50-day moving average price of $503.89 and a 200 day moving average price of $481.83. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $25.16 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.44 and a beta of 0.95. Hubbell Inc has a 12-month low of $374.68 and a 12-month high of $565.50.

Hubbell (NYSE:HUBB) last released its earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.06. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.Hubbell’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.50 EPS. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Sell-side analysts expect that Hubbell Inc will post 19.84 EPS for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. Hubbell’s payout ratio is currently 33.55%.

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.