22,000 Shares of Hubbell Inc $HUBB Acquired by Viking Fund Management LLC

Viking Fund Management LLC bought a new position in shares of Hubbell Inc (NYSE:HUBB) in the third quarter, Holdings Channel.com reports. The firm bought 22,000 shares of the industrial products company’s stock, valued at approximately $9,979,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. raised 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 valued at $26,000 after purchasing an additional 33 shares during the period. Schuylkill Financial LLC purchased a new stake in shares of Hubbell during the 2nd quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Hubbell during the 2nd quarter valued at approximately $35,000. Leonteq Securities AG purchased a new stake in shares of Hubbell during the 1st quarter valued at approximately $33,000. Finally, Fiduciary Financial Advisors bought a new position in Hubbell in the 2nd quarter worth approximately $37,000. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In related news, VP Jonathan Del Nero 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 sale, the vice president owned 2,933 shares in the company, valued at approximately $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Hubbell Stock Performance

Hubbell stock opened at $472.04 on Thursday. The firm’s 50 day simple moving average is $470.89 and its 200 day simple moving average is $488.49. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $24.94 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85. Hubbell Inc has a 1-year low of $403.82 and a 1-year high of $565.50.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) 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 business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company posted $4.93 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, analysts expect that Hubbell Inc will post 20.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $1.42 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is presently 33.63%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HUBB. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of Hubbell from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Evercore restated an “outperform” rating and set a $630.00 target price on shares of Hubbell in a research report on Friday, October 9th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Finally, Robert W. Baird initiated coverage on Hubbell in a report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average target price of $556.78.

Hubbell Profile

Hubbell Incorporated (NYSE:HUBB) designs and manufactures electrical and utility products used to support the generation, transmission, distribution and control of electricity. The company serves electric utilities, electrical contractors, industrial businesses, commercial facilities and communications infrastructure providers.

Its Utility Solutions products include transmission and distribution equipment, connectors, insulators, arresters, grounding and bonding products, substation equipment, and enclosures for underground electrical systems.