Beacon Pointe Advisors LLC Makes New Investment in Hubbell Inc $HUBB

Key Points

• Beacon Pointe Advisors initiated a Hubbell position by purchasing 4,647 shares worth approximately $2.43 million. Institutional investors collectively own 88.16% of the company.
• Analysts maintain a generally positive outlook, with Hubbell receiving a “Moderate Buy” consensus rating and an average price target of $553.89.
• Hubbell exceeded quarterly expectations, reporting $5.52 in EPS and $1.71 billion in revenue, while revenue grew 15.3% year over year. The company also declared a quarterly dividend of $1.42 per share, implying a 1.2% annualized yield.

Beacon Pointe Advisors LLC bought a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,647 shares of the industrial products company's stock, valued at approximately $2,432,000.

Several other large investors have also made changes to their positions in the company. Ballentine Partners LLC boosted its position in Hubbell by 1.9% in the fourth quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company's stock valued at $572,000 after buying an additional 24 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Hubbell by 2.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company's stock valued at $505,000 after acquiring an additional 24 shares during the last quarter. Quest Investment Management LLC lifted its stake in shares of Hubbell by 1.3% in the 3rd quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company's stock valued at $816,000 after acquiring an additional 25 shares during the last quarter. Gulf International Bank UK Ltd boosted its holdings in shares of Hubbell by 1.1% during the 4th quarter. Gulf International Bank UK Ltd now owns 2,678 shares of the industrial products company's stock valued at $1,189,000 after acquiring an additional 28 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in shares of Hubbell by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company's stock valued at $833,000 after acquiring an additional 28 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Analyst Ratings Changes

HUBB has been the subject of a number of recent research reports. Weiss Ratings cut Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. Stephens lifted their price target on Hubbell from $550.00 to $600.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. Robert W. Baird initiated coverage on Hubbell in a research note on Thursday, August 20th. They issued an "outperform" rating and a $550.00 price objective for the company. UBS Group reaffirmed a "neutral" rating and issued a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Hubbell in a report on Wednesday, July 29th. One equities research 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $553.89.

Insider Transactions at Hubbell

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total transaction of $283,652.32. Following the transaction, the vice president directly owned 2,933 shares in the company, valued at approximately $1,520,936.48. This represents a 15.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company's stock.

Hubbell Stock Performance

Shares of HUBB opened at $459.86 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22. The firm's fifty day simple moving average is $491.58 and its two-hundred day simple moving average is $497.43. Hubbell Inc has a 12 month low of $403.82 and a 12 month high of $565.50. The stock has a market capitalization of $24.30 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 2.25 and a beta of 0.90.

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

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 yield of 1.2%. Hubbell's payout ratio is 33.63%.

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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