Man Group plc Makes New $179.70 Million Investment in Hubbell Inc $HUBB

Man Group plc bought a new stake in Hubbell Inc (NYSE:HUBB) in the 2nd quarter, HoldingsChannel reports. The firm bought 343,460 shares of the industrial products company’s stock, valued at approximately $179,698,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HUBB. BlackRock Inc. acquired a new position in shares of Hubbell during the 2nd quarter valued at about $2,455,986,000. Wellington Management Group LLP increased its position in Hubbell by 140.4% during the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock worth $1,116,773,000 after purchasing an additional 1,468,701 shares during the last quarter. State Street Corp increased its position in Hubbell by 1.8% during the fourth quarter. State Street Corp now owns 2,302,567 shares of the industrial products company’s stock worth $1,022,593,000 after purchasing an additional 40,623 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Hubbell during the second quarter worth about $783,142,000. Finally, Geode Capital Management LLC raised its stake in Hubbell by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company’s stock worth $608,704,000 after purchasing an additional 10,898 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Down 0.6%

Shares of HUBB stock opened at $464.05 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93. The firm has a market cap of $24.52 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 2.29 and a beta of 0.90. The company has a 50-day moving average of $494.67 and a two-hundred day moving average of $498.02. Hubbell Inc has a 1-year low of $403.82 and a 1-year high of $565.50.

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, beating 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 revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business earned $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, analysts predict that Hubbell Inc will post 20.41 EPS for the current year.

Hubbell Dividend Announcement

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 issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s dividend payout ratio (DPR) is 33.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HUBB. Sanford C. Bernstein reissued an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Barclays upped their price objective on Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Wells Fargo & Company increased their price objective on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Stephens lifted their target price on Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $553.89.

Insiders Place Their Bets

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.63% of the company’s stock.

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.