Bank of Montreal Can Has $21.87 Million Stock Holdings in Hubbell Inc $HUBB

Bank of Montreal Can lowered its stake in shares of Hubbell Inc (NYSE:HUBB) by 33.3% in the second quarter, Holdings Channel reports. The institutional investor owned 53,553 shares of the industrial products company’s stock after selling 26,685 shares during the period. Bank of Montreal Can’s holdings in Hubbell were worth $21,872,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new position in Hubbell during the second quarter worth about $29,000. Cullen Frost Bankers Inc. increased its position in Hubbell by 400.0% in the 2nd 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 in the last quarter. Ransom Advisory Ltd bought a new position in Hubbell in the 1st quarter worth approximately $53,000. Groupe la Francaise bought a new stake in shares of Hubbell during the first quarter worth $57,000. Finally, Geneos Wealth Management Inc. boosted its stake in Hubbell by 271.9% in the first quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 155 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HUBB shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Barclays boosted their target price on Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Mizuho increased their price objective 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 note on Sunday, November 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $477.83.

Insider Activity

In other news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the completion of the transaction, the insider owned 3,243 shares of the company’s stock, valued at approximately $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the sale, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Up 0.2%

Shares of HUBB opened at $462.40 on Friday. Hubbell Inc has a one year low of $299.42 and a one year high of $484.26. The company has a market cap of $24.57 billion, a P/E ratio of 28.68, a P/E/G ratio of 2.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $436.38 and a two-hundred day simple moving average of $414.86.

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

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $1.42 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, November 28th. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

Hubbell 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.