53,217 Shares in Hubbell Inc $HUBB Purchased by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners LP purchased 53,217 Hubbell shares worth approximately $27.8 million, representing about 0.10% of the company. Institutional investors and hedge funds collectively own 88.16% of Hubbell.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $553.89. Hubbell recently exceeded quarterly earnings and revenue estimates, reporting $5.52 in EPS and $1.71 billion in revenue, up 15.3% year over year.
• Hubbell declared a quarterly dividend of $1.42 per share, equivalent to $5.68 annually and a 1.2% yield. The stock opened at $470.29, below its 50-day and 200-day moving averages.

Freestone Grove Partners LP purchased a new stake in Hubbell Inc (NYSE:HUBB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 53,217 shares of the industrial products company's stock, valued at approximately $27,843,000. Freestone Grove Partners LP owned approximately 0.10% of Hubbell as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Ballentine Partners LLC grew its holdings in Hubbell by 1.9% during the fourth quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company's stock worth $572,000 after buying an additional 24 shares in the last quarter. Benjamin Edwards Inc. raised its position in Hubbell by 2.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company's stock valued at $505,000 after buying an additional 24 shares during the last quarter. Quest Investment Management LLC lifted its stake in Hubbell by 1.3% during the 3rd quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company's stock valued at $816,000 after acquiring an additional 25 shares in the last quarter. Gulf International Bank UK Ltd lifted its stake in Hubbell by 1.1% during the 4th quarter. Gulf International Bank UK Ltd now owns 2,678 shares of the industrial products company's stock valued at $1,189,000 after acquiring an additional 28 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in Hubbell by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company's stock worth $833,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HUBB. UBS Group reiterated a "neutral" rating and issued a $515.00 target price on shares of Hubbell in a report on Tuesday, June 16th. Stephens upped their price objective on shares of Hubbell from $550.00 to $600.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Robert W. Baird assumed coverage on shares of Hubbell in a research note on Thursday, August 20th. They issued an "outperform" rating and a $550.00 price objective for the company. Wells Fargo & Company boosted their target price on Hubbell from $530.00 to $560.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Hubbell in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $553.89.

Hubbell Stock Down 0.5%

Hubbell stock opened at $470.29 on Friday. The firm has a 50 day moving average price of $492.88 and a 200-day moving average price of $497.69. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50. The company has a market capitalization of $24.85 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.31 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.39 by $0.13. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.Hubbell's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, equities analysts predict that Hubbell Inc will post 20.41 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell's payout ratio is currently 33.63%.

Insider Buying and Selling

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total transaction of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares in the company, valued at $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is currently owned by company insiders.

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.

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