Exchange Traded Concepts LLC Buys 1,116 Shares of Hubbell Inc $HUBB

Exchange Traded Concepts LLC grew its stake in Hubbell Inc (NYSE:HUBB) by 15.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,428 shares of the industrial products company’s stock after buying an additional 1,116 shares during the period. Exchange Traded Concepts LLC’s holdings in Hubbell were worth $3,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Central Pacific Bank Trust Division acquired a new stake in Hubbell during the 2nd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. lifted its position in shares of Hubbell by 400.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 68 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Hubbell in the 1st quarter valued at $53,000. Johnson Financial Group Inc. increased its position in shares of Hubbell by 185.4% during the second 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 period. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Hubbell during the second quarter worth $57,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the transaction, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. This trade represents a 34.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John F. Malloy bought 435 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost 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 $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. Insiders own 0.66% of the company’s stock.

Hubbell Stock Up 0.1%

HUBB stock opened at $456.28 on Thursday. The stock’s 50 day simple moving average is $441.11 and its 200 day simple moving average is $429.47. The company has a market cap of $24.25 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 2.51 and a beta of 1.01. 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 Inc has a fifty-two week low of $299.42 and a fifty-two week high of $484.26.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating the consensus estimate of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $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. On average, research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued 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 annualized dividend and a yield of 1.2%. Hubbell’s dividend payout ratio is currently 35.24%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Evercore ISI started coverage on Hubbell in a research report on Monday, December 15th. They set an “outperform” rating and a $575.00 target price on the stock. Wells Fargo & Company lifted their target price on Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price target on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Finally, Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a research note on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $488.43.

Hubbell Company 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.