Bank of New York Mellon Corp Lowers Stock Holdings in Hubbell Inc $HUBB

Bank of New York Mellon Corp lowered its stake in Hubbell Inc (NYSE:HUBB) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,058,372 shares of the industrial products company’s stock after selling 108,310 shares during the period. Bank of New York Mellon Corp owned approximately 3.87% of Hubbell worth $1,010,126,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. boosted its stake in shares of Hubbell by 165.0% in the first quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock valued at $26,000 after buying an additional 33 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Hubbell by 147.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. NBT Bank N A NY acquired a new stake in Hubbell in the fourth quarter valued at $27,000. Raiffeisen Bank International AG lifted its holdings in Hubbell by 83.3% in the fourth quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares during the period. Finally, Leonteq Securities AG purchased a new stake in shares of Hubbell during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HUBB. Stephens upped their price target on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Barclays raised their price objective on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. UBS Group restated a “neutral” rating and set a $515.00 target price on shares of Hubbell in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company lifted their price target on shares of Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $554.38.

Hubbell Stock Down 0.8%

HUBB stock opened at $480.05 on Thursday. The company’s 50 day simple moving average is $488.68 and its 200-day simple moving average is $495.27. The firm has a market capitalization of $25.37 billion, a PE ratio of 28.35, a P/E/G ratio of 2.44 and a beta of 0.89. Hubbell Inc has a 12 month low of $403.82 and a 12 month high of $565.50. 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 (NYSE:HUBB) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.06. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.50 EPS. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Equities analysts expect that Hubbell Inc will post 19.83 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $1.42 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $5.68 annualized dividend and a yield of 1.2%. Hubbell’s payout ratio is presently 33.55%.

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.