Hubbell Inc $HUBB Shares Acquired by Allstate Corp

Allstate Corp boosted its position in shares of Hubbell Inc (NYSE:HUBB) by 104.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,646 shares of the industrial products company’s stock after acquiring an additional 1,861 shares during the period. Allstate Corp’s holdings in Hubbell were worth $1,619,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HUBB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Hubbell during the 3rd quarter valued at $162,309,000. Troy Asset Management Ltd grew its holdings in Hubbell by 60.7% during the 4th quarter. Troy Asset Management Ltd now owns 551,620 shares of the industrial products company’s stock valued at $244,980,000 after purchasing an additional 208,327 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Hubbell by 355.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 222,485 shares of the industrial products company’s stock valued at $95,738,000 after purchasing an additional 173,668 shares in the last quarter. Boston Partners grew its holdings in Hubbell by 30.7% during the 3rd quarter. Boston Partners now owns 736,469 shares of the industrial products company’s stock valued at $316,521,000 after purchasing an additional 172,990 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new stake in Hubbell during the 2nd quarter valued at $68,164,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBB has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $478.00 to $532.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Mizuho set a $575.00 price objective on shares of Hubbell in a report on Wednesday, February 4th. Wells Fargo & Company raised their price objective on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Evercore raised their price objective on shares of Hubbell from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Morgan Stanley raised their price objective on shares of Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 11th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $546.25.

Hubbell Trading Down 2.3%

Shares of NYSE:HUBB opened at $473.22 on Friday. The company has a market cap of $25.16 billion, a PE ratio of 27.95, a P/E/G ratio of 2.44 and a beta of 0.95. The company’s 50-day moving average price is $503.89 and its 200 day moving average price is $481.83. Hubbell Inc has a fifty-two week low of $374.68 and a fifty-two week high of $565.50. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.06. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.50 billion. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. Hubbell’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $3.50 EPS. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Sell-side analysts anticipate that Hubbell Inc will post 19.84 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $1.42 dividend. The ex-dividend date is Friday, May 29th. This represents a $5.68 annualized dividend and a yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is currently 33.55%.

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.