Caxton Associates LLP Sells 1,438 Shares of Hubbell Inc $HUBB

Caxton Associates LLP trimmed its position in Hubbell Inc (NYSE:HUBB) by 35.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,596 shares of the industrial products company’s stock after selling 1,438 shares during the quarter. Caxton Associates LLP’s holdings in Hubbell were worth $1,060,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. McKinley Carter Wealth Services Inc. increased its holdings in shares of Hubbell by 16.7% in the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after acquiring an additional 2,843 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Hubbell in the 2nd quarter valued at approximately $320,000. Venturi Wealth Management LLC bought a new stake in Hubbell during the 2nd quarter worth approximately $490,000. Zurich Insurance Group Ltd FI acquired a new stake in Hubbell during the 1st quarter worth approximately $1,423,000. Finally, Beacon Financial Group bought a new position in Hubbell in the second quarter valued at approximately $262,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Down 0.6%

Shares of HUBB stock opened at $445.24 on Tuesday. The firm has a 50 day moving average price of $437.75 and a two-hundred day moving average price of $427.06. The company has a market capitalization of $23.66 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 2.47 and a beta of 1.01. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $484.26. 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 (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the company earned $4.49 EPS. The business’s revenue was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, analysts predict that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a dividend of $1.42 per share. The ex-dividend date was Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. Hubbell’s dividend payout ratio is currently 35.24%.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred 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 owned 3,243 shares in the company, valued at approximately $1,525,247.76. This trade represents a 38.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John F. Malloy acquired 435 shares of the stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $429.24 per share, with a total value of $186,719.40. Following the completion of the transaction, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This represents a 2.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of research analyst reports. Evercore ISI started coverage on shares of Hubbell in a report on Monday. They set an “outperform” rating and a $575.00 price objective on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Wall Street Zen cut Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company lifted their target price on Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Barclays upped their price target on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $488.43.

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.