Hubbell Inc $HUBB Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of Hubbell Inc (NYSE:HUBB) by 22.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,954 shares of the industrial products company’s stock after selling 5,088 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Hubbell were worth $7,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in Hubbell by 3.6% in the 3rd quarter. State Street Corp now owns 2,261,944 shares of the industrial products company’s stock worth $973,337,000 after acquiring an additional 78,539 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Hubbell by 15.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after purchasing an additional 226,856 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Hubbell by 0.6% in the second quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock valued at $625,698,000 after purchasing an additional 9,697 shares during the period. Wellington Management Group LLP increased its holdings in shares of Hubbell by 18.5% in the third quarter. Wellington Management Group LLP now owns 1,045,931 shares of the industrial products company’s stock valued at $450,075,000 after purchasing an additional 163,626 shares during the period. Finally, Boston Partners raised its stake in shares of Hubbell by 30.7% in the third quarter. Boston Partners now owns 736,469 shares of the industrial products company’s stock worth $316,521,000 after purchasing an additional 172,990 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Performance

NYSE:HUBB opened at $480.91 on Friday. The company has a market cap of $25.57 billion, a P/E ratio of 28.85, a P/E/G ratio of 2.43 and a beta of 1.00. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $533.80. The company’s 50-day moving average price is $496.11 and its 200-day moving average price is $460.96. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $4.73 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 company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm earned $4.10 EPS. Hubbell’s quarterly revenue was up 11.9% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. On average, sell-side analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a dividend of $1.42 per share. The ex-dividend date was Friday, February 27th. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is presently 34.07%.

Insider Buying and Selling

In other Hubbell news, CEO Gerben Bakker sold 25,233 shares of the business’s 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 transaction, the chief executive officer owned 64,420 shares of the company’s stock, valued at approximately $32,143,647.40. The trade was a 28.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Nero Jonathan M. Del sold 2,245 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $500.60, for a total value of $1,123,847.00. Following the completion of the sale, the vice president owned 2,769 shares of the company’s stock, valued at approximately $1,386,161.40. The trade was a 44.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 34,689 shares of company stock worth $17,407,395. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of research reports. Morgan Stanley lifted their target price on Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 11th. Evercore raised their target price on Hubbell from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Wells Fargo & Company lifted their price target on Hubbell from $515.00 to $550.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. UBS Group reissued a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, December 12th. Finally, Stephens restated an “overweight” rating and issued a $550.00 price objective on shares of Hubbell in a research report on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $536.00.

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.