California Public Employees Retirement System Purchases 5,620 Shares of Hubbell Inc $HUBB

California Public Employees Retirement System lifted its holdings in Hubbell Inc (NYSE:HUBB) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,974 shares of the industrial products company’s stock after purchasing an additional 5,620 shares during the period. California Public Employees Retirement System owned 0.18% of Hubbell worth $38,788,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Central Pacific Bank Trust Division acquired a new stake in Hubbell in the 2nd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. boosted its position in shares of Hubbell by 400.0% in the second 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 during the period. Ransom Advisory Ltd bought a new stake in shares of Hubbell in the first quarter valued at approximately $53,000. Johnson Financial Group Inc. grew its stake in shares of Hubbell by 185.4% in the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 89 shares during the last quarter. Finally, Groupe la Francaise bought a new position in Hubbell during the first quarter worth $57,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HUBB shares. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 2nd. Wells Fargo & Company boosted their price objective on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Stephens reiterated an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. UBS Group started coverage on Hubbell in a research report on Thursday, November 20th. They set a “neutral” rating and a $450.00 target price on the stock. Finally, Barclays boosted their price target on Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $474.00.

Hubbell Stock Performance

NYSE:HUBB opened at $448.55 on Thursday. The firm has a market capitalization of $23.84 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.42 and a beta of 1.01. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $484.26. The firm has a 50-day moving average price of $435.62 and a 200 day moving average price of $425.65.

Hubbell (NYSE:HUBB) last released its quarterly earnings data 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 company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $4.49 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal 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 paid a dividend of $1.42 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 28th. Hubbell’s dividend payout ratio is currently 35.24%.

Insider Buying and Selling at Hubbell

In other news, Director John F. Malloy bought 435 shares of Hubbell stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the purchase, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was 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 directly owned 4,785 shares in the company, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.66% of the company’s stock.

About Hubbell

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.