Elevation Point Wealth Partners LLC Takes $1 Million Position in Hubbell Inc $HUBB

Elevation Point Wealth Partners LLC acquired a new position in Hubbell Inc (NYSE:HUBB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,038 shares of the industrial products company’s stock, valued at approximately $1,000,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HUBB. Wellington Management Group LLP lifted its holdings in Hubbell by 140.4% during the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock valued at $1,116,773,000 after purchasing an additional 1,468,701 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Hubbell in the third quarter valued at approximately $162,309,000. Boston Partners raised its position in shares of Hubbell by 37.8% in the fourth quarter. Boston Partners now owns 1,015,118 shares of the industrial products company’s stock valued at $452,675,000 after purchasing an additional 278,649 shares during the period. Troy Asset Management Ltd lifted its stake in shares of 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 buying an additional 208,327 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of 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 buying an additional 173,668 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Up 1.7%

Shares of NYSE:HUBB opened at $495.44 on Tuesday. The firm has a fifty day moving average price of $495.55 and a two-hundred day moving average price of $493.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.58 and a quick ratio of 0.94. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50. The company has a market cap of $26.18 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 2.46 and a beta of 0.89.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.06. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm posted $3.50 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Analysts anticipate that Hubbell Inc will post 19.81 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, May 29th. Hubbell’s dividend payout ratio is currently 33.55%.

Analysts Set New Price Targets

A number of research firms recently weighed in on HUBB. Weiss Ratings upgraded shares of Hubbell from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Morgan Stanley increased their target price on Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Wells Fargo & Company lifted their price target on Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Barclays boosted their price objective on Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, UBS Group reissued a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a report on Tuesday, June 16th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $554.38.

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.