Hubbell Inc $HUBB Shares Sold by Covea Finance

Covea Finance cut its holdings in shares of Hubbell Inc (NYSE:HUBB) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,708 shares of the industrial products company’s stock after selling 4,560 shares during the quarter. Covea Finance owned about 0.13% of Hubbell worth $30,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. increased its stake in shares of Hubbell by 2.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 24 shares during the last quarter. DB Fitzpatrick & Co Inc grew its holdings in Hubbell by 0.6% in the second quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company’s stock valued at $1,776,000 after purchasing an additional 26 shares during the period. Chicago Capital LLC grew its holdings in Hubbell by 0.5% in the second quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company’s stock valued at $2,504,000 after purchasing an additional 29 shares during the period. Klingman & Associates LLC increased its position in Hubbell by 1.2% during the second quarter. Klingman & Associates LLC now owns 2,496 shares of the industrial products company’s stock worth $1,019,000 after purchasing an additional 29 shares during the last quarter. Finally, Bordeaux Wealth Advisors LLC raised its stake in Hubbell by 5.0% during the second quarter. Bordeaux Wealth Advisors LLC now owns 635 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 30 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Price Performance

Shares of NYSE HUBB opened at $456.28 on Friday. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $484.26. The business has a 50-day moving average of $441.66 and a 200-day moving average of $429.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 2.51 and a beta of 1.01.

Hubbell (NYSE:HUBB) last announced its earnings results 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. The business 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% on a year-over-year basis. During the same period last year, the business posted $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is presently 35.24%.

Insider Activity

In other news, Director John F. Malloy purchased 435 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average cost of $429.24 per share, with a total value of $186,719.40. Following the acquisition, the director owned 19,085 shares in the company, valued at approximately $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of Hubbell stock in a transaction on Monday, November 3rd. The stock was 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 in the company, valued at $1,525,247.76. This trade represents a 38.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HUBB. Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Evercore ISI started coverage on Hubbell in a research report on Monday, December 15th. They set an “outperform” rating and a $575.00 price target for the company. Wells Fargo & Company upped their price target on Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Barclays boosted their target price on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $488.43.

Hubbell 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.