BI Asset Management Fondsmaeglerselskab A S Boosts Stake in Hubbell Inc $HUBB

BI Asset Management Fondsmaeglerselskab A S increased its position in Hubbell Inc (NYSE:HUBB) by 826.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 35,942 shares of the industrial products company’s stock after purchasing an additional 32,063 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Hubbell were worth $14,964,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HUBB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Hubbell in the third quarter worth about $162,309,000. Troy Asset Management Ltd lifted its position in shares of Hubbell by 60.7% in the fourth quarter. Troy Asset Management Ltd now owns 551,620 shares of the industrial products company’s stock worth $244,980,000 after buying an additional 208,327 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Hubbell by 355.8% in the third quarter. Qube Research & Technologies Ltd now owns 222,485 shares of the industrial products company’s stock worth $95,738,000 after buying an additional 173,668 shares in the last quarter. Boston Partners lifted its position 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 buying an additional 172,990 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Hubbell in the second quarter worth about $68,164,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Down 1.8%

Shares of NYSE HUBB opened at $476.37 on Friday. The stock has a market capitalization of $25.17 billion, a P/E ratio of 28.14, a PEG ratio of 2.40 and a beta of 0.91. The business’s 50 day moving average is $502.20 and its two-hundred day moving average is $482.85. Hubbell Inc has a 1-year low of $380.86 and a 1-year 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 released its earnings results on Thursday, April 30th. The industrial products company reported $3.93 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.06. The firm 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 company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. As a group, research analysts expect that Hubbell Inc will post 19.84 EPS for the current year.

Hubbell Dividend Announcement

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

Wall Street Analyst Weigh In

HUBB has been the topic of a number of research analyst reports. Stephens boosted their target price on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Barclays boosted their target price on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Morgan Stanley boosted their price objective on Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 11th. Wells Fargo & Company boosted their price objective on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a research note on Sunday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus target price of $546.25.

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.