Assenagon Asset Management S.A. Lowers Stake in Hubbell Inc $HUBB

Key Points

• Assenagon Asset Management cut its Hubbell stake by 88.2% in the second quarter, leaving it with 3,929 shares worth approximately $2.1 million. Institutional investors 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. The company projects fiscal 2026 EPS of $20.25–$20.55.
• Hubbell declared a quarterly dividend of $1.42 per share, equivalent to a $5.68 annualized payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $554.38.

Assenagon Asset Management S.A. trimmed its position in Hubbell Inc (NYSE:HUBB - Free Report) by 88.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,929 shares of the industrial products company's stock after selling 29,236 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Hubbell were worth $2,056,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. boosted its position 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 purchasing an additional 33 shares during the period. Raiffeisen Bank International AG lifted its stake in shares of Hubbell by 83.3% during 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 in the last quarter. Leonteq Securities AG acquired a new position in shares of Hubbell during the first quarter worth about $33,000. DV Equities LLC purchased a new stake in shares of Hubbell in the fourth quarter worth about $33,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Hubbell in the third quarter worth about $33,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Price Performance

HUBB stock opened at $507.06 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50. The stock's 50 day moving average is $494.73 and its two-hundred day moving average is $498.59. The company has a market capitalization of $26.79 billion, a PE ratio of 30.02, a P/E/G ratio of 2.51 and a beta of 0.90.

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

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. Hubbell's dividend payout ratio (DPR) is currently 33.63%.

Analyst Ratings Changes

HUBB has been the subject of a number of recent research reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of Hubbell in a report on Wednesday, July 29th. Wells Fargo & Company upped their price target on Hubbell from $530.00 to $560.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. UBS Group restated a "neutral" rating and issued a $515.00 price target on shares of Hubbell in a report on Tuesday, June 16th. Weiss Ratings downgraded shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 14th. Finally, Barclays lifted their price objective on shares of Hubbell from $481.00 to $503.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $554.38.

Insider Buying and Selling at Hubbell

In other news, VP Nero Jonathan M. Del sold 547 shares of the business's stock in a transaction dated 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 owned 2,933 shares of the company's stock, valued at approximately $1,520,936.48. The trade was a 15.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.63% of the company's stock.

Hubbell 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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