82,759 Shares in Hubbell Inc $HUBB Acquired by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. acquired 82,759 Hubbell shares worth approximately $43.3 million, giving it a 0.16% stake. Institutional investors and hedge funds collectively own 88.16% of Hubbell.
• Hubbell reported quarterly EPS of $5.52, exceeding estimates of $5.39, while revenue rose 15.3% year over year to $1.71 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $553.89.
• The company declared a quarterly dividend of $1.42 per share, equivalent to $5.68 annually and a 1.2% yield. Shares opened at $470.69, compared with a 52-week range of $403.82 to $565.50.

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 82,759 shares of the industrial products company's stock, valued at approximately $43,300,000. Northwestern Mutual Wealth Management Co. owned 0.16% of Hubbell as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Pinnacle Bancorp Inc. lifted its position in Hubbell by 165.0% in the first quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company's stock worth $26,000 after purchasing an additional 33 shares during the period. Raiffeisen Bank International AG increased its position in shares of Hubbell by 83.3% during the 4th 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 during the period. Leonteq Securities AG bought a new stake in shares of Hubbell in the 1st quarter worth $33,000. DV Equities LLC bought a new stake in shares of Hubbell in the 4th quarter worth $33,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Hubbell in the 3rd quarter worth $33,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HUBB. UBS Group reaffirmed a "neutral" rating and set a $515.00 target price on shares of Hubbell in a research note on Tuesday, June 16th. 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 report on Tuesday, July 14th. Stephens raised 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. Finally, Robert W. Baird assumed coverage on shares of Hubbell in a report on Thursday. They issued an "outperform" rating and a $550.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $553.89.

Hubbell Stock Performance

Shares of HUBB stock opened at $470.69 on Friday. The company has a market capitalization of $24.87 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 2.30 and a beta of 0.90. Hubbell Inc has a 1-year low of $403.82 and a 1-year high of $565.50. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22. The stock's fifty day simple moving average is $495.92 and its 200-day simple moving average is $498.43.

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

Hubbell Announces Dividend

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

Insider Transactions at Hubbell

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the sale, the vice president directly owned 2,933 shares in the company, valued at $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is 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.

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Inc (NYSE:HUBB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source