California Public Employees Retirement System Cuts Stake in Hubbell Inc $HUBB

California Public Employees Retirement System reduced its stake in shares of Hubbell Inc (NYSE:HUBB) by 1.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 101,455 shares of the industrial products company’s stock after selling 1,697 shares during the period. California Public Employees Retirement System’s holdings in Hubbell were worth $49,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Bancorp Inc. increased its holdings in Hubbell by 165.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 33 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Hubbell by 147.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. NBT Bank N A NY purchased a new position in shares of Hubbell during the fourth quarter valued at about $27,000. Raiffeisen Bank International AG grew its position in shares of Hubbell by 83.3% during the fourth quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Hubbell in the first quarter worth about $33,000. Institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group reaffirmed a “neutral” rating and issued a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Wall Street Zen raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company boosted their price target on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Finally, Stephens increased their price objective on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average target price of $554.38.

Hubbell Trading Down 0.7%

HUBB opened at $485.43 on Tuesday. The stock’s fifty day moving average is $488.31 and its two-hundred day moving average is $496.00. The company has a market capitalization of $25.65 billion, a P/E ratio of 28.67, a PEG ratio of 2.46 and a beta of 0.89. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50. 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 quarterly earnings data on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.06. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $3.50 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Analysts forecast that Hubbell Inc will post 19.86 earnings per share for the current year.

Hubbell Announces Dividend

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

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.