Amundi Decreases Holdings in Hubbell Inc $HUBB

Amundi trimmed its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 25.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 343,347 shares of the industrial products company's stock after selling 114,718 shares during the quarter. Amundi owned 0.65% of Hubbell worth $179,640,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted 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 valued at $26,000 after acquiring an additional 33 shares during the period. Raiffeisen Bank International AG grew its holdings in shares of Hubbell by 83.3% in the fourth quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company's stock worth $29,000 after purchasing an additional 30 shares during the last quarter. Schuylkill Financial LLC purchased a new position in shares of Hubbell in the second quarter worth $30,000. Leonteq Securities AG purchased a new position in shares of Hubbell in the first quarter worth $33,000. Finally, DV Equities LLC bought a new stake in Hubbell in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

Shares of NYSE HUBB opened at $464.94 on Wednesday. The firm has a market cap of $24.56 billion, a P/E ratio of 27.53, a PEG ratio of 2.25 and a beta of 0.89. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50. 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 has a 50 day moving average of $482.38 and a 200 day moving average of $494.31.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS 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 business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company earned $4.93 EPS. The company's quarterly 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. As a group, research analysts expect that Hubbell Inc will post 20.43 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. Hubbell's dividend payout ratio is 33.63%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HUBB shares. Morgan Stanley upped their price objective on shares of Hubbell from $565.00 to $575.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 2nd. Robert W. Baird began coverage on Hubbell in a research report on Thursday, August 20th. They issued an "outperform" rating and a $550.00 target price for the company. Weiss Ratings lowered Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 14th. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Hubbell in a research note 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $555.00.

Insider Buying and Selling

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of the business's stock in a transaction on 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.63% of the company's stock.

About Hubbell

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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