Assenagon Asset Management S.A. Boosts Stake in Hubbell Inc $HUBB

Assenagon Asset Management S.A. increased its stake in Hubbell Inc (NYSE:HUBB) by 84.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,165 shares of the industrial products company’s stock after purchasing an additional 15,211 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of Hubbell worth $16,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HUBB. Jones Financial Companies Lllp boosted its position in shares of Hubbell by 171.9% in the first quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company’s stock worth $795,000 after purchasing an additional 1,518 shares during the period. Empowered Funds LLC increased its stake in shares of Hubbell by 18.9% in the first quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company’s stock worth $408,000 after purchasing an additional 196 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Hubbell by 271.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 155 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Hubbell during the 1st quarter valued at $599,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Hubbell by 31.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 468 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 111 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Down 3.5%

Shares of HUBB stock opened at $517.20 on Friday. The company’s fifty day simple moving average is $500.86 and its two-hundred day simple moving average is $490.95. Hubbell Inc has a 52 week low of $402.04 and a 52 week high of $565.50. The stock has a market cap of $27.33 billion, a P/E ratio of 30.55, a PEG ratio of 2.61 and a beta of 0.91. 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 issued 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 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 business’s 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 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Analysts predict that Hubbell Inc will post 19.84 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.1%. Hubbell’s payout ratio is presently 33.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HUBB shares. Stephens upped their target price on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. UBS Group reissued a “neutral” rating and set a $515.00 price target on shares of Hubbell in a report on Tuesday, June 16th. Barclays raised their price target on Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Morgan Stanley upped 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. Finally, Weiss Ratings cut Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $554.38.

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.