Allworth Financial LP Takes $10.29 Million Position in Hubbell Inc $HUBB

Allworth Financial LP acquired a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,670 shares of the industrial products company's stock, valued at approximately $10,291,000.

A number of other hedge funds have also modified their holdings of HUBB. BlackRock Inc. bought a new position in shares of Hubbell during the 2nd quarter worth approximately $2,455,986,000. Wellington Management Group LLP lifted its position in Hubbell by 140.4% during the 4th quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company's stock worth $1,116,773,000 after buying an additional 1,468,701 shares in the last quarter. State Street Corp boosted its stake in shares of Hubbell by 1.8% during the 4th quarter. State Street Corp now owns 2,302,567 shares of the industrial products company's stock worth $1,022,593,000 after buying an additional 40,623 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Hubbell during the 2nd quarter worth about $783,142,000. Finally, Geode Capital Management LLC grew its holdings in shares of Hubbell by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company's stock valued at $608,704,000 after acquiring an additional 10,898 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HUBB shares. Robert W. Baird set a $550.00 target price on shares of Hubbell in a research note on Thursday. Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Wells Fargo & Company upped their price objective on shares of Hubbell from $530.00 to $560.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Weiss Ratings lowered shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research report 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. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $553.89.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $470.45 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93. The firm has a market cap of $24.85 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 2.33 and a beta of 0.90. The stock's fifty day moving average price is $496.03 and its two-hundred day moving average price is $498.62. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50.

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

Hubbell Dividend Announcement

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

Insider Buying and Selling at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was 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 approximately $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.63% of the company's stock.

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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