Envestnet Asset Management Inc. Boosts Stock Position in Hubbell Inc $HUBB

Envestnet Asset Management Inc. raised its holdings in Hubbell Inc (NYSE:HUBB) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,729 shares of the industrial products company’s stock after purchasing an additional 3,542 shares during the period. Envestnet Asset Management Inc.’s holdings in Hubbell were worth $38,611,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HUBB. Townsquare Capital LLC grew its holdings in Hubbell by 0.8% during the 3rd quarter. Townsquare Capital LLC now owns 2,817 shares of the industrial products company’s stock worth $1,212,000 after acquiring an additional 22 shares in the last quarter. Unique Wealth LLC lifted its position in shares of Hubbell by 2.6% during the third quarter. Unique Wealth LLC now owns 897 shares of the industrial products company’s stock worth $386,000 after purchasing an additional 23 shares during the last quarter. Benjamin Edwards Inc. grew its stake in Hubbell by 2.0% in the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 24 shares in the last quarter. Blue Trust Inc. increased its holdings in Hubbell by 5.5% in the third quarter. Blue Trust Inc. now owns 480 shares of the industrial products company’s stock valued at $207,000 after buying an additional 25 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in Hubbell by 5.7% during the third quarter. Versant Capital Management Inc now owns 485 shares of the industrial products company’s stock valued at $209,000 after buying an additional 26 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 25,233 shares of Hubbell stock in a transaction on Friday, February 6th. The stock was sold at an average price of $498.97, for a total transaction of $12,590,510.01. Following the sale, the chief executive officer owned 64,420 shares of the company’s stock, valued at $32,143,647.40. The trade was a 28.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John F. Malloy purchased 435 shares of Hubbell stock in a transaction on Monday, November 17th. The shares were acquired at an average price of $429.24 per share, with a total value of $186,719.40. Following the transaction, the director directly owned 19,085 shares in the company, valued at $8,192,045.40. This trade represents a 2.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several research reports. Evercore lifted their target price on Hubbell from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Stephens restated an “overweight” rating and set a $550.00 price objective on shares of Hubbell in a research note on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research note on Thursday, January 22nd. Mizuho set a $575.00 target price on shares of Hubbell in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Hubbell from $478.00 to $532.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus target price of $529.75.

Hubbell Stock Down 0.8%

Hubbell stock opened at $502.26 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.72. Hubbell Inc has a one year low of $299.42 and a one year high of $513.59. The company has a 50-day simple moving average of $467.04 and a 200-day simple moving average of $445.79. The firm has a market capitalization of $26.69 billion, a P/E ratio of 30.13, a P/E/G ratio of 2.56 and a beta of 1.02.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 3rd. The industrial products company reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.03. Hubbell had a net margin of 15.29% and a return on equity of 27.45%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the business posted $4.10 EPS. Hubbell’s revenue was up 11.9% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. As a group, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, February 27th. Hubbell’s dividend payout ratio is 34.07%.

About Hubbell

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.