Bank of New York Mellon Corp Has $962.25 Million Holdings in Hubbell Inc $HUBB

Key Points

• Bank of New York Mellon slightly reduced its Hubbell stake by 2.3% in the fourth quarter, but still held 2.17 million shares worth about $962.25 million at quarter-end.
• Hubbell reported better-than-expected quarterly results, with EPS of $3.93 versus $3.87 expected and revenue of $1.52 billion versus $1.50 billion expected, while revenue rose 11.1% year over year.
• The company also declared a quarterly dividend of $1.42 per share and received a generally positive analyst outlook, with a consensus Moderate Buy rating and average price target of $546.25.

Bank of New York Mellon Corp trimmed its position in Hubbell Inc (NYSE:HUBB - Free Report) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,166,682 shares of the industrial products company's stock after selling 51,988 shares during the quarter. Bank of New York Mellon Corp owned approximately 4.08% of Hubbell worth $962,245,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Hubbell by 147.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company's stock worth $25,000 after buying an additional 34 shares during the period. NBT Bank N A NY purchased a new stake in Hubbell in the 4th quarter worth about $27,000. Hantz Financial Services Inc. boosted its position in Hubbell by 141.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company's stock worth $30,000 after acquiring an additional 41 shares during the period. Baillie Gifford & Co. grew its stake in Hubbell by 62.8% during the 4th quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 27 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Hubbell by 630.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 73 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 63 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Trading Up 3.6%

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

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, topping analysts' consensus estimates of $3.87 by $0.06. The company had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Analysts expect that Hubbell Inc will post 19.84 EPS for the current fiscal 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. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, May 29th. Hubbell's dividend payout ratio is 33.55%.

Analysts Set New Price Targets

Several research firms recently commented on HUBB. Mizuho set a $575.00 price target on shares of Hubbell in a report on Wednesday, February 4th. Wells Fargo & Company upped their price objective on shares of Hubbell from $530.00 to $560.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Stephens lifted their target price on shares of Hubbell from $550.00 to $600.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. Barclays boosted their price target 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, Morgan Stanley upped their price target on shares of Hubbell from $515.00 to $565.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 11th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Hubbell presently has a consensus rating of "Moderate Buy" and an average target price of $546.25.

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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