SG Americas Securities LLC Boosts Holdings in Hubbell Inc $HUBB

SG Americas Securities LLC raised its stake in shares of Hubbell Inc (NYSE:HUBB) by 1,310.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 30,106 shares of the industrial products company’s stock after buying an additional 27,972 shares during the period. SG Americas Securities LLC owned about 0.06% of Hubbell worth $12,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of HUBB. Nuveen LLC acquired a new stake in Hubbell during the first quarter worth about $213,283,000. Adage Capital Partners GP L.L.C. lifted its holdings in Hubbell by 181.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after acquiring an additional 628,886 shares during the period. Boston Partners purchased a new stake in Hubbell in the 2nd quarter worth approximately $230,200,000. Mirova US LLC acquired a new stake in shares of Hubbell during the 2nd quarter worth approximately $139,386,000. Finally, Deutsche Bank AG increased its holdings in shares of Hubbell by 35.1% during the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock valued at $365,353,000 after purchasing an additional 287,047 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HUBB. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report 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. Mizuho lifted their price target on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Stephens reiterated an “overweight” rating and set a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Finally, Wells Fargo & Company boosted their price objective on Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $477.83.

Hubbell Trading Down 1.3%

HUBB opened at $431.97 on Friday. The firm has a market capitalization of $22.96 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. The company’s 50 day simple moving average is $437.81 and its two-hundred day simple moving average is $418.51. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $484.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating 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 firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm earned $4.49 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $1.42 per share. 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 Activity

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of Hubbell 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,525,247.76. This trade represents a 38.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

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.