Alyeska Investment Group L.P. Decreases Stock Holdings in Hubbell Inc $HUBB

Key Points

• Alyeska Investment Group reduced its Hubbell stake by 16.6% in the second quarter, selling 23,109 shares and retaining 116,053 shares valued at approximately $60.7 million. Institutional investors and hedge funds collectively own 88.16% of the company.
• Hubbell exceeded quarterly expectations, reporting $5.52 in EPS and $1.71 billion in revenue, with revenue up 15.3% year over year. The company issued full-year EPS guidance of $20.25–$20.55.
• Hubbell declared a quarterly dividend of $1.42 per share, equivalent to a 1.2% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $553.89.

Alyeska Investment Group L.P. decreased its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 16.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,053 shares of the industrial products company's stock after selling 23,109 shares during the quarter. Alyeska Investment Group L.P. owned about 0.22% of Hubbell worth $60,719,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Pinnacle Bancorp Inc. lifted its holdings in Hubbell by 165.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company's stock worth $26,000 after buying an additional 33 shares in the last quarter. Raiffeisen Bank International AG boosted its holdings in shares of Hubbell by 83.3% in the 4th quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company's stock valued at $29,000 after buying an additional 30 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in Hubbell in the second quarter valued at $35,000. Leonteq Securities AG acquired a new stake in shares of Hubbell in the 1st quarter valued at about $33,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of Hubbell during the second quarter worth approximately $37,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Up 0.0%

Shares of HUBB opened at $459.86 on Monday. Hubbell Inc has a fifty-two week low of $403.82 and a fifty-two week high of $565.50. The firm has a market cap of $24.29 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 2.25 and a beta of 0.90. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. The company's fifty day moving average is $491.58 and its two-hundred day moving average is $497.37.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.66 billion. During the same period in the prior year, the firm posted $4.93 earnings per share. The firm'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. Analysts forecast that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Dividend Announcement

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

Insider Activity

In other news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction dated 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 owned 2,933 shares in the company, valued at approximately $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.63% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HUBB shares. Sanford C. Bernstein reissued an "outperform" rating on shares of Hubbell in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings cut Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. UBS Group restated a "neutral" rating and set a $515.00 target price on shares of Hubbell in a research report on Tuesday, June 16th. Finally, Stephens upped their price objective on Hubbell from $550.00 to $600.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Hubbell presently has a consensus rating of "Moderate Buy" and an average price target of $553.89.

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