Amundi Raises Stock Position in Hubbell Inc $HUBB

Amundi increased its position in shares of Hubbell Inc (NYSE:HUBB) by 17.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,402 shares of the industrial products company’s stock after acquiring an additional 53,888 shares during the quarter. Amundi’s holdings in Hubbell were worth $138,013,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new position in Hubbell in the second quarter worth $29,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 68 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Hubbell in the 1st quarter worth $53,000. Johnson Financial Group Inc. grew its stake in Hubbell by 185.4% during the 2nd quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock worth $56,000 after buying an additional 89 shares during the last quarter. Finally, Groupe la Francaise acquired a new position in Hubbell during the 1st quarter valued at about $57,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of research analyst reports. Mizuho increased their price target on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Stephens reaffirmed an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Wells Fargo & Company boosted their target price on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 2nd. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $474.00.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total transaction of $945,813.52. Following the sale, the insider directly 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John F. Malloy purchased 435 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the transaction, the director owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This trade represents a 2.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.76% of the company’s stock.

Hubbell Stock Performance

NYSE HUBB opened at $440.51 on Monday. The stock has a 50-day simple moving average of $434.81 and a two-hundred day simple moving average of $424.79. The firm has a market capitalization of $23.41 billion, a P/E ratio of 27.33, a PEG ratio of 2.43 and a beta of 1.01. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $484.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36.

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

Hubbell Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, November 28th. This represents a $5.68 annualized dividend and a yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is currently 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.