Intech Investment Management LLC Lowers Stake in Hubbell Inc $HUBB

Intech Investment Management LLC decreased its position in Hubbell Inc (NYSE:HUBB) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 1,855 shares of the industrial products company’s stock after selling 133 shares during the quarter. Intech Investment Management LLC’s holdings in Hubbell were worth $758,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in HUBB. Nuveen LLC acquired a new stake in shares of Hubbell in the first quarter valued at $213,283,000. Adage Capital Partners GP L.L.C. boosted its holdings in Hubbell by 181.6% during the 1st 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 position in Hubbell during the 2nd quarter valued at about $230,200,000. Mirova US LLC acquired a new position in Hubbell in the 2nd quarter valued at about $139,386,000. Finally, Deutsche Bank AG increased its stake in Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock worth $365,353,000 after purchasing an additional 287,047 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Down 0.3%

Shares of NYSE:HUBB opened at $428.58 on Thursday. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26. The company’s 50 day moving average is $434.98 and its two-hundred day moving average is $422.30. The company has a market cap of $22.78 billion, a PE ratio of 26.59, a P/E/G 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 issued its 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Equities analysts predict 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. Stockholders of record on Friday, November 28th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 28th. This is an increase from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is currently 35.24%.

Analyst Ratings Changes

Several research firms have recently commented on HUBB. Stephens reissued an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a research note on Thursday, September 11th. Mizuho upped their target price on shares of Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $474.00.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the sale, the insider owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John F. Malloy bought 435 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price 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. The trade was 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.

About Hubbell

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.