L2 Asset Management LLC Acquires New Holdings in Hubbell Inc $HUBB

L2 Asset Management LLC bought a new stake in shares of Hubbell Inc (NYSE:HUBB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,835 shares of the industrial products company’s stock, valued at approximately $960,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pinnacle Bancorp Inc. boosted its position in shares of Hubbell by 165.0% in the first quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 33 shares during the period. Raiffeisen Bank International AG lifted its stake in shares of Hubbell by 83.3% during the 4th quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock valued at $29,000 after buying an additional 30 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in Hubbell in the 2nd quarter worth $35,000. Leonteq Securities AG purchased a new stake in Hubbell in the 1st quarter worth $33,000. Finally, DV Equities LLC bought a new stake in Hubbell during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HUBB. Stephens upped their price objective on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Barclays boosted their price target on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Wall Street Zen downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Robert W. Baird started coverage on shares of Hubbell in a report on Thursday. They set an “outperform” rating and a $550.00 price objective for the company. Finally, UBS Group reiterated a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $553.89.

Insider Activity at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares of the company’s stock, valued at approximately $1,520,936.48. This trade represents a 15.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

Hubbell Stock Performance

NYSE HUBB opened at $466.72 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93. Hubbell Inc has a 1-year low of $403.82 and a 1-year high of $565.50. The business has a 50 day simple moving average of $495.45 and a two-hundred day simple moving average of $498.18. The stock has a market capitalization of $24.66 billion, a PE ratio of 27.63, a P/E/G ratio of 2.30 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business posted $4.93 earnings per share. Hubbell’s quarterly revenue was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, research analysts predict that Hubbell Inc will post 20.41 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s dividend payout ratio is currently 33.63%.

Hubbell Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.