Bank of America Corp DE Buys New Position in Hubbell Inc $HUBB

Key Points

• Bank of America initiated a major Hubbell position, purchasing 391,663 shares worth approximately $204.9 million, or 0.74% of the company. Institutional investors collectively own 88.16% of Hubbell.
• Analyst sentiment remains generally positive, with Hubbell holding a consensus “Moderate Buy” rating and an average price target of $555; ratings range from “Hold” to “Strong Buy.”
• Hubbell reported quarterly EPS of $5.52, beating estimates, while revenue rose 15.3% year over year to $1.71 billion. The company also paid a quarterly dividend of $1.42 per share, equivalent to a 1.3% annual yield.

Bank of America Corp DE purchased a new position in Hubbell Inc (NYSE:HUBB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 391,663 shares of the industrial products company's stock, valued at approximately $204,918,000. Bank of America Corp DE owned 0.74% of Hubbell at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Freestone Grove Partners LP bought a new stake in Hubbell during the 2nd quarter worth approximately $27,843,000. Pointe Capital Management LLC bought a new stake in shares of Hubbell during the 2nd quarter valued at $511,000. Odyssean LLC lifted its stake in shares of Hubbell by 173.1% during the 2nd quarter. Odyssean LLC now owns 1,636 shares of the industrial products company's stock valued at $856,000 after buying an additional 1,037 shares in the last quarter. Man Group plc purchased a new position in shares of Hubbell during the 2nd quarter valued at $179,698,000. Finally, Jupiter Topco LLC bought a new position in Hubbell in the 2nd quarter worth $60,389,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Buying and Selling at Hubbell

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of the firm'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 $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group reiterated a "neutral" rating and issued a $515.00 price target on shares of Hubbell in a research note on Tuesday, June 16th. Weiss Ratings downgraded Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 14th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Hubbell in a research report on Wednesday, July 29th. Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Robert W. Baird assumed coverage on Hubbell in a report on Thursday, August 20th. They issued an "outperform" rating and a $550.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of "Moderate Buy" and an average target price of $555.00.

Hubbell Trading Up 0.2%

Shares of HUBB stock opened at $439.29 on Thursday. Hubbell Inc has a 1 year low of $403.82 and a 1 year high of $565.50. 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 stock's 50 day simple moving average is $477.77 and its two-hundred day simple moving average is $491.07. The company has a market cap of $23.21 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.15 and a beta of 0.89.

Hubbell (NYSE:HUBB - Get Free Report) last announced 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. The firm 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 company's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.93 EPS. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Research analysts predict that Hubbell Inc will post 20.43 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $1.42 per share. The ex-dividend date was Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. Hubbell's payout ratio is 33.63%.

Hubbell Company Profile

Hubbell Incorporated NYSE: HUBB is a manufacturer of electrical and utility products used to build, connect, protect and maintain electrical systems. The company serves electric utilities, electrical contractors, distributors, telecommunications providers, industrial businesses and commercial customers.

Hubbell operates through two principal business areas: Utility Solutions and Electrical Solutions. Its product portfolio includes components for electric transmission, distribution and substation applications, as well as connectors, insulators, arresters, grounding and bonding equipment, wiring devices, lighting products, enclosures and other electrical system products.

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