MTM Investment Management LLC Acquires Shares of 400 Hubbell Inc $HUBB

MTM Investment Management LLC acquired a new position in shares of Hubbell Inc (NYSE:HUBB) in the 2nd quarter, HoldingsChannel reports. The fund acquired 400 shares of the industrial products company’s stock, valued at approximately $163,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers lifted its position in shares of Hubbell by 7.2% during the 2nd quarter. Cetera Investment Advisers now owns 9,007 shares of the industrial products company’s stock worth $3,679,000 after buying an additional 606 shares during the last quarter. Creative Planning grew its holdings in shares of Hubbell by 41.4% during the second quarter. Creative Planning now owns 7,445 shares of the industrial products company’s stock worth $3,040,000 after purchasing an additional 2,179 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Hubbell by 1,310.8% during the second quarter. SG Americas Securities LLC now owns 30,106 shares of the industrial products company’s stock worth $12,296,000 after purchasing an additional 27,972 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Hubbell by 6.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,090 shares of the industrial products company’s stock valued at $5,346,000 after purchasing an additional 817 shares during the last quarter. Finally, ABN Amro Investment Solutions acquired a new stake in shares of Hubbell in the 2nd quarter valued at about $6,768,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. Barclays increased their target price on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, Mizuho lifted their price objective 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 research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $477.83.

Hubbell Stock Down 1.3%

HUBB stock opened at $431.97 on Friday. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26. The company has a current ratio of 1.36, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The company has a market cap of $22.96 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.60 and a beta of 1.00. The company’s 50-day moving average price is $437.81 and its 200 day moving average price is $418.51.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping the consensus estimate of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the company earned $4.49 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

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

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the transaction, the insider directly owned 4,785 shares in the company, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alyssa R. Flynn sold 2,011 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $470.32, for a total transaction of $945,813.52. Following the completion of the sale, the insider directly owned 3,243 shares in the company, valued at $1,525,247.76. This trade represents a 38.28% decrease in their position. The SEC filing for this sale provides additional information. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Company 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.