Perigon Wealth Management LLC Buys New Holdings in Hubbell Inc $HUBB

Perigon Wealth Management LLC purchased a new stake in shares of Hubbell Inc (NYSE:HUBB) in the third quarter, HoldingsChannel.com reports. The firm purchased 12,540 shares of the industrial products company’s stock, valued at approximately $5,396,000.

A number of other large investors also recently modified their holdings of HUBB. Central Pacific Bank Trust Division acquired a new position in shares of Hubbell in the 2nd quarter valued at about $29,000. Cullen Frost Bankers Inc. raised its holdings in 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 buying an additional 68 shares during the period. Ransom Advisory Ltd purchased a new position in Hubbell in the first quarter valued at approximately $53,000. Johnson Financial Group Inc. lifted its position in Hubbell by 185.4% during the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after buying an additional 89 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in Hubbell during the second quarter worth approximately $57,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total value of $1,152,255.00. Following the sale, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their position. The sale 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 the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the transaction, the insider directly owned 3,243 shares in the company, valued at $1,525,247.76. The trade was a 38.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of research reports. Stephens reissued an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Wells Fargo & Company increased their price target on Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wall Street Zen cut Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Monday. Evercore ISI initiated coverage on Hubbell in a research report on Monday, December 15th. They issued an “outperform” rating and a $575.00 target price for the company. Finally, UBS Group reiterated a “neutral” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, December 12th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $488.43.

Hubbell Stock Down 0.4%

Shares of Hubbell stock opened at $454.56 on Monday. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $484.26. The company has a market capitalization of $24.16 billion, a PE ratio of 28.20, a P/E/G ratio of 2.50 and a beta of 1.01. 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 business has a 50-day moving average of $442.23 and a 200-day moving average of $430.67.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS 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 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 prior year, the business posted $4.49 earnings per share. Hubbell’s revenue for the quarter 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, equities analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

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

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.