Hubbell Inc $HUBB Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in Hubbell Inc (NYSE:HUBB) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,463 shares of the industrial products company’s stock after purchasing an additional 450 shares during the quarter. ProShare Advisors LLC’s holdings in Hubbell were worth $5,090,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. McKinley Carter Wealth Services Inc. raised its stake in Hubbell by 16.7% during the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after purchasing an additional 2,843 shares during the period. Belpointe Asset Management LLC purchased a new stake in shares of Hubbell in the 2nd quarter valued at approximately $320,000. Venturi Wealth Management LLC acquired a new stake in shares of Hubbell during the 2nd quarter worth approximately $490,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Hubbell during the 1st quarter valued at approximately $1,423,000. Finally, Beacon Financial Group acquired a new position in Hubbell in the second quarter valued at approximately $262,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB opened at $431.97 on Friday. The stock’s 50-day moving average price is $437.81 and its 200 day moving average price is $418.10. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $484.26. The firm has a market cap of $22.96 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.60 and a beta of 1.00. The company has a current ratio of 1.36, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.19. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.Hubbell’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, sell-side analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 28th. This is an increase from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is currently 35.24%.

Analyst Ratings Changes

Several research firms have issued reports on HUBB. Barclays raised their target price on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Wells Fargo & Company boosted their price objective on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Stephens reaffirmed an “overweight” rating and set a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Finally, Mizuho lifted their price target on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $477.83.

Insider Buying and Selling

In other news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total value of $945,813.52. Following the sale, the insider directly owned 3,243 shares in the company, valued at approximately $1,525,247.76. This trade represents a 38.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the transaction, the insider directly owned 4,785 shares of the company’s stock, valued at $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.76% of the stock is owned by corporate insiders.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.