Bank of America Corp DE Lowers Stock Position in Hubbell Inc $HUBB

Key Points

• Bank of America reduced its Hubbell stake by 17.7% in the first quarter, selling 68,894 shares and retaining 321,073 shares worth approximately $157.6 million. Institutional investors collectively own 88.16% of Hubbell.
• Hubbell reported quarterly EPS of $5.52, ahead of the $5.39 consensus estimate, while revenue rose 15.3% year over year to $1.71 billion. The company expects fiscal 2026 EPS of $20.25–$20.55.
• Hubbell declared a quarterly dividend of $1.42 per share, equivalent to $5.68 annually and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $554.38.

Bank of America Corp DE lowered its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 321,073 shares of the industrial products company's stock after selling 68,894 shares during the quarter. Bank of America Corp DE owned 0.60% of Hubbell worth $157,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of Hubbell by 140.4% during the 4th quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company's stock valued at $1,116,773,000 after buying an additional 1,468,701 shares during the last quarter. State Street Corp grew its stake in Hubbell by 1.8% during the fourth quarter. State Street Corp now owns 2,302,567 shares of the industrial products company's stock valued at $1,022,593,000 after acquiring an additional 40,623 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Hubbell by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company's stock valued at $608,704,000 after purchasing an additional 10,898 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Hubbell by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,214,236 shares of the industrial products company's stock worth $539,257,000 after acquiring an additional 60,071 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Hubbell by 0.8% in the fourth quarter. Deutsche Bank AG now owns 1,142,410 shares of the industrial products company's stock worth $507,356,000 after purchasing an additional 9,202 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

NYSE HUBB opened at $514.81 on Thursday. The business's fifty day moving average price is $490.54 and its 200-day moving average price is $497.43. The stock has a market capitalization of $27.20 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 2.46 and a beta of 0.90. 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.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly 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 firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.93 EPS. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, equities analysts predict that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on HUBB shares. Wells Fargo & Company increased their target price on Hubbell from $530.00 to $560.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Weiss Ratings downgraded Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Barclays boosted 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. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Hubbell in a report on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $554.38.

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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