Bessemer Group Inc. Decreases Position in Hubbell Inc $HUBB

Bessemer Group Inc. lowered its position in shares of Hubbell Inc (NYSE:HUBB) by 22.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,768 shares of the industrial products company’s stock after selling 41,855 shares during the quarter. Bessemer Group Inc. owned approximately 0.27% of Hubbell worth $70,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HUBB. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Hubbell by 147.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Pinnacle Bancorp Inc. grew 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. NBT Bank N A NY acquired a new stake in shares of Hubbell in the fourth quarter valued at $27,000. Raiffeisen Bank International AG raised its holdings in shares of Hubbell by 83.3% in the 4th quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock valued at $29,000 after buying an additional 30 shares during the period. Finally, Baillie Gifford & Co. raised its holdings in shares of Hubbell by 62.8% in the 4th quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company’s stock valued at $31,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HUBB. Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Barclays raised their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. UBS Group reiterated a “neutral” rating and issued a $515.00 price target on shares of Hubbell in a research note on Tuesday, June 16th. Stephens boosted their price target on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company increased their price objective 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 given a Hold rating to the stock. According to MarketBeat, Hubbell has an average rating of “Moderate Buy” and an average target price of $554.38.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $489.18 on Friday. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50. The company has a 50-day moving average price of $488.41 and a 200 day moving average price of $495.42. The company has a market cap of $25.85 billion, a P/E ratio of 28.89, a PEG ratio of 2.43 and a beta of 0.89. 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 released its earnings results 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 company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 EPS. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Research analysts predict that Hubbell Inc will post 19.86 earnings per share for the current year.

Hubbell Announces Dividend

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