California State Teachers Retirement System Boosts Holdings in Hubbell Inc $HUBB

California State Teachers Retirement System grew its stake in shares of Hubbell Inc (NYSE:HUBB) by 48,520.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,838,018 shares of the industrial products company’s stock after purchasing an additional 39,756,082 shares during the period. California State Teachers Retirement System owned approximately 0.75% of Hubbell worth $20,843,251,000 as of its most recent SEC filing.

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

Insider Transactions at Hubbell

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of Hubbell 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 directly owned 2,933 shares of the company’s stock, valued at approximately $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Robert W. Baird assumed coverage on shares of Hubbell in a research report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 target price on the stock. Morgan Stanley increased their price target on shares of Hubbell from $565.00 to $575.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 2nd. UBS Group reissued a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Finally, Weiss Ratings downgraded shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. One 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. According to MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $555.00.

Hubbell Trading Up 0.0%

Hubbell stock opened at $460.95 on Tuesday. Hubbell Inc has a 12 month low of $403.82 and a 12 month high of $565.50. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 2.25 and a beta of 0.89. The business’s fifty day simple moving average is $483.54 and its two-hundred day simple moving average is $494.71. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.39 by $0.13. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The company’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, equities analysts predict that Hubbell Inc will post 20.43 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s dividend payout ratio (DPR) 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.