Anchor Capital Advisors LLC Has $47.73 Million Stake in Hubbell Inc $HUBB

Key Points

• Anchor Capital Advisors trimmed its Hubbell stake by 2.4% in the fourth quarter, but still held 107,465 shares valued at about $47.7 million, making Hubbell its 24th-largest position.
• Hubbell reported strong quarterly results, with EPS of $3.93 beating estimates and revenue of $1.52 billion topping forecasts; revenue also rose 11.1% year over year.
• The company declared a quarterly dividend of $1.42 per share and has drawn generally positive analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $546.25.

Anchor Capital Advisors LLC lessened its position in Hubbell Inc (NYSE:HUBB - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 107,465 shares of the industrial products company's stock after selling 2,664 shares during the quarter. Hubbell makes up about 1.4% of Anchor Capital Advisors LLC's portfolio, making the stock its 24th biggest position. Anchor Capital Advisors LLC owned about 0.20% of Hubbell worth $47,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Envestnet Asset Management Inc. boosted its stake in shares of Hubbell by 4.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 89,729 shares of the industrial products company's stock worth $38,611,000 after acquiring an additional 3,542 shares during the period. DNB Asset Management AS lifted its holdings in Hubbell by 4.9% during the 4th quarter. DNB Asset Management AS now owns 38,865 shares of the industrial products company's stock valued at $17,260,000 after purchasing an additional 1,832 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Hubbell by 64.0% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,879 shares of the industrial products company's stock worth $1,669,000 after purchasing an additional 1,514 shares during the period. Perigon Wealth Management LLC increased its holdings in shares of Hubbell by 32.4% in the fourth quarter. Perigon Wealth Management LLC now owns 16,600 shares of the industrial products company's stock valued at $7,372,000 after purchasing an additional 4,060 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Hubbell by 1.5% during the 4th quarter. Nordea Investment Management AB now owns 206,382 shares of the industrial products company's stock worth $92,356,000 after buying an additional 2,983 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

Hubbell stock opened at $479.78 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.58 and a quick ratio of 0.94. Hubbell Inc has a 1 year low of $380.86 and a 1 year high of $565.50. The business has a 50 day moving average of $503.18 and a 200-day moving average of $482.00. The company has a market capitalization of $25.35 billion, a P/E ratio of 28.34, a P/E/G ratio of 2.33 and a beta of 0.91.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 EPS for the quarter, topping analysts' consensus estimates of $3.87 by $0.06. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. Hubbell's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. On average, equities research analysts predict that Hubbell Inc will post 19.84 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, May 29th. This represents a $5.68 annualized dividend and a yield of 1.2%. Hubbell's dividend payout ratio (DPR) is presently 33.55%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HUBB shares. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday. Mizuho set a $575.00 price objective on shares of Hubbell in a research note on Wednesday, February 4th. Wells Fargo & Company increased their target price 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. Evercore lifted their price objective on Hubbell from $575.00 to $585.00 and gave the company an "outperform" rating in a report on Wednesday, February 4th. Finally, Barclays raised their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $546.25.

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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