Bain Capital Public Equity Management II LLC Purchases New Position in Hubbell Inc $HUBB

Bain Capital Public Equity Management II LLC acquired a new position in shares of Hubbell Inc (NYSE:HUBB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 323,906 shares of the industrial products company’s stock, valued at approximately $132,286,000. Hubbell comprises approximately 6.3% of Bain Capital Public Equity Management II LLC’s investment portfolio, making the stock its 6th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Hubbell by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock valued at $2,714,669,000 after purchasing an additional 21,508 shares during the period. Invesco Ltd. increased its position in Hubbell by 0.6% during the second quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock worth $625,698,000 after buying an additional 9,697 shares during the period. Geode Capital Management LLC lifted its stake in Hubbell by 1.8% in the second quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock valued at $550,571,000 after buying an additional 24,110 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Hubbell by 9.5% in the second quarter. Impax Asset Management Group plc now owns 1,006,783 shares of the industrial products company’s stock valued at $409,363,000 after acquiring an additional 87,627 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Hubbell by 181.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after acquiring an additional 628,886 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Up 0.2%

NYSE:HUBB opened at $441.25 on Tuesday. Hubbell Inc has a 1 year low of $299.42 and a 1 year 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. The stock has a fifty day moving average price of $435.10 and a two-hundred day moving average price of $425.16. The stock has a market capitalization of $23.45 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.43 and a beta of 1.01.

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

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Friday, November 28th. Hubbell’s dividend payout ratio is 35.24%.

Insider Activity

In other news, Director John F. Malloy bought 435 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the transaction, the director owned 19,085 shares in the company, valued at $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 3,243 shares in the company, valued at $1,525,247.76. This trade represents a 38.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on HUBB shares. Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased 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. Mizuho upped their price objective on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Wells Fargo & Company increased their price objective on Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $474.00.

Hubbell Company 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.