Connor Clark & Lunn Investment Management Ltd. Buys New Position in Hubbell Inc $HUBB

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hubbell Inc (NYSE:HUBB) in the second quarter, Holdings Channel.com reports. The fund purchased 14,618 shares of the industrial products company’s stock, valued at approximately $7,648,000.

A number of other hedge funds have also recently bought and sold shares of HUBB. BlackRock Inc. purchased a new stake in shares of Hubbell in the second quarter valued at about $2,455,986,000. Bank of New York Mellon Corp purchased a new position in Hubbell during the second quarter worth about $783,142,000. Wellington Management Group LLP grew its position in Hubbell by 140.4% in the 4th quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock worth $1,116,773,000 after purchasing an additional 1,468,701 shares in the last quarter. Deutsche Bank AG purchased a new stake in Hubbell in the 2nd quarter valued at about $610,053,000. Finally, Boston Partners increased its stake in Hubbell by 37.8% in the 4th quarter. Boston Partners now owns 1,015,118 shares of the industrial products company’s stock valued at $452,675,000 after buying an additional 278,649 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total transaction of $283,652.32. Following the sale, the vice president owned 2,933 shares of the company’s stock, valued at approximately $1,520,936.48. This represents a 15.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.63% of the stock is owned by insiders.

Analysts Set New Price Targets

HUBB has been the topic of a number of research analyst reports. Barclays boosted their target price on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Stephens upped their price objective on Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group reiterated a “neutral” rating and set a $515.00 target price on shares of Hubbell in a research note on Tuesday, June 16th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $553.89.

Hubbell Trading Up 1.9%

Shares of HUBB opened at $473.15 on Thursday. Hubbell Inc has a fifty-two week low of $403.82 and a fifty-two week high of $565.50. The business has a 50-day moving average of $493.96 and a 200 day moving average of $497.92. The firm has a market cap of $25.00 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 2.27 and a beta of 0.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 1.61.

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

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid 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 payout ratio is currently 33.63%.

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.