BlackRock Inc. Takes $2.46 Billion Position in Hubbell Inc $HUBB

Key Points

• BlackRock acquired 4.69 million Hubbell shares worth approximately $2.46 billion, giving it an 8.88% stake. Institutional investors collectively own 88.16% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $554.38; ratings include six Buys and four Holds.
• Hubbell exceeded quarterly earnings and revenue estimates, reporting $5.52 in EPS and $1.71 billion in revenue, while declaring a quarterly dividend of $1.42, equivalent to a 1.2% annual yield.

BlackRock Inc. acquired a new position in Hubbell Inc (NYSE:HUBB - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,694,163 shares of the industrial products company's stock, valued at approximately $2,455,986,000. BlackRock Inc. owned 8.88% of Hubbell as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its stake in Hubbell by 165.0% in 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 raised its position 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 valued at $29,000 after buying an additional 30 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Hubbell during the first quarter valued at approximately $33,000. DV Equities LLC purchased a new position in shares of Hubbell in the fourth quarter worth $33,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Hubbell in the third quarter worth $33,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HUBB. Weiss Ratings cut shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. 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. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Sanford C. Bernstein restated an "outperform" rating on shares of Hubbell in a research report on Wednesday, July 29th. Finally, Stephens lifted their target price on Hubbell from $550.00 to $600.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of "Moderate Buy" and an average price target of $554.38.

Insider Activity at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares in the company, valued at approximately $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.63% of the company's stock.

Hubbell Trading Down 1.6%

Shares of HUBB opened at $475.88 on Thursday. The stock has a market capitalization of $25.14 billion, a PE ratio of 28.18, a P/E/G ratio of 2.37 and a beta of 0.90. The company's fifty day moving average is $495.99 and its 200 day moving average is $498.75. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 1.61. Hubbell Inc has a fifty-two week low of $403.82 and a fifty-two week high of $565.50.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data 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. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business earned $4.93 earnings per share. Hubbell's quarterly 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. Sell-side analysts expect that Hubbell Inc will post 20.41 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $1.42 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell's dividend payout ratio (DPR) is presently 33.63%.

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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