Camden National Bank Has $1.15 Million Stock Position in Hubbell Inc $HUBB

Camden National Bank raised its holdings in shares of Hubbell Inc (NYSE:HUBB) by 12.5% during the second quarter, HoldingsChannel.com reports. The firm owned 2,814 shares of the industrial products company’s stock after acquiring an additional 312 shares during the quarter. Camden National Bank’s holdings in Hubbell were worth $1,149,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in shares of Hubbell during the second quarter worth approximately $29,000. Cullen Frost Bankers Inc. boosted its stake in Hubbell by 400.0% in the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 68 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Hubbell during the 1st quarter worth $53,000. Groupe la Francaise acquired a new position in shares of Hubbell in the 1st quarter valued at $57,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Hubbell by 271.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 155 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE:HUBB opened at $422.19 on Friday. The stock has a 50 day simple moving average of $435.46 and a 200 day simple moving average of $420.27. The stock has a market cap of $22.44 billion, a P/E ratio of 26.19, a PEG ratio of 2.60 and a beta of 1.00. Hubbell Inc has a 1-year low of $299.42 and a 1-year 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.

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

Hubbell Increases Dividend

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

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 2,470 shares of the firm’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 owned 4,785 shares in the company, valued at approximately $2,232,202.50. This trade represents 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 this link. Also, Director John F. Malloy purchased 435 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was bought at an average cost of $429.24 per share, with a total value of $186,719.40. Following the purchase, the director owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This represents a 2.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research report 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Finally, Barclays upped their price objective on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $473.86.

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.