Danske Bank A S Purchases New Position in Hubbell Inc $HUBB

Danske Bank A S acquired a new stake in Hubbell Inc (NYSE:HUBB) in the 2nd quarter, Holdings Channel reports. The fund acquired 42,883 shares of the industrial products company’s stock, valued at approximately $22,436,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Hubbell during the 2nd quarter worth approximately $2,455,986,000. Wellington Management Group LLP lifted its stake in Hubbell by 140.4% in the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock valued at $1,116,773,000 after buying an additional 1,468,701 shares during the last quarter. State Street Corp lifted its stake in Hubbell by 1.8% in the fourth quarter. State Street Corp now owns 2,302,567 shares of the industrial products company’s stock valued at $1,022,593,000 after buying an additional 40,623 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Hubbell in the second quarter valued at approximately $783,142,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Hubbell by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company’s stock valued at $608,704,000 after acquiring an additional 10,898 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent research reports. Barclays lifted their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Wall Street Zen cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Stephens raised their price objective on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Sanford C. Bernstein reissued an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Finally, UBS Group restated a “neutral” rating and issued a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $553.89.

Hubbell Stock Down 1.1%

Hubbell stock opened at $470.45 on Friday. The stock has a 50 day moving average of $496.03 and a two-hundred day moving average of $498.62. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50. The stock has a market capitalization of $24.85 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.33 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.39 by $0.13. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the company posted $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. As a group, research analysts expect that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Announces Dividend

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

Insider Transactions at Hubbell

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the transaction, the vice president directly owned 2,933 shares of the company’s stock, valued at approximately $1,520,936.48. The trade was a 15.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.