Freestone Grove Partners LP Takes Position in Hubbell Inc $HUBB

Freestone Grove Partners LP acquired a new stake in shares of Hubbell Inc (NYSE:HUBB) during the second quarter, according to its most recent filing with the SEC. The fund acquired 53,217 shares of the industrial products company’s stock, valued at approximately $27,843,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Pinnacle Bancorp Inc. boosted its stake in Hubbell by 165.0% in the 1st 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 increased its position in shares of Hubbell by 83.3% during the fourth 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 during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Hubbell during the third quarter valued at about $33,000. DV Equities LLC purchased a new stake in shares of Hubbell in the fourth quarter worth about $33,000. Finally, Leonteq Securities AG purchased a new stake in shares of Hubbell in the first quarter worth about $33,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Trading Down 0.5%

Shares of HUBB opened at $470.29 on Friday. The firm’s 50 day simple moving average is $492.88 and its 200 day simple moving average is $497.69. The company has a market capitalization of $24.85 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.31 and a beta of 0.90. 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.

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

Hubbell Announces Dividend

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

Insider Transactions at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the transaction, the vice president owned 2,933 shares of the company’s stock, valued at $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Stephens increased their target price on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Sanford C. Bernstein reissued an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $553.89.

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.