California State Teachers Retirement System Increases Position in Hubbell Inc $HUBB

Key Points

• California State Teachers Retirement System dramatically increased its Hubbell stake by acquiring nearly 39.8 million shares, bringing its reported ownership to 75.4% of the company. Institutional investors collectively own 88.16% of Hubbell.
• Hubbell exceeded quarterly expectations, reporting $5.52 in adjusted earnings per share and $1.71 billion in revenue, with revenue up 15.3% year over year. The company guided to fiscal 2026 EPS of $20.25–$20.55.
• Hubbell declared a quarterly dividend of $1.42 per share, equal to a $5.68 annualized dividend and 1.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $555.

California State Teachers Retirement System boosted its position in Hubbell Inc (NYSE:HUBB - Free Report) by 48,520.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,838,018 shares of the industrial products company's stock after acquiring an additional 39,756,082 shares during the quarter. California State Teachers Retirement System owned 75.40% of Hubbell worth $20,843,251,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in shares of Hubbell by 171.9% during the 1st quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company's stock valued at $795,000 after purchasing an additional 1,518 shares during the last quarter. Empowered Funds LLC lifted its position in Hubbell by 18.9% in the 1st quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company's stock worth $408,000 after buying an additional 196 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Hubbell by 271.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company's stock worth $70,000 after buying an additional 155 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Hubbell in the first quarter worth approximately $599,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Hubbell by 31.1% in the second quarter. EverSource Wealth Advisors LLC now owns 468 shares of the industrial products company's stock worth $191,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

Shares of Hubbell stock opened at $460.95 on Tuesday. 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 Inc has a one year low of $403.82 and a one year high of $565.50. The business's 50 day simple moving average is $483.54 and its two-hundred day simple moving average is $494.71. The stock has a market capitalization of $24.35 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 2.25 and a beta of 0.89.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share 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 firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm posted $4.93 earnings per share. The business'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. Analysts forecast that Hubbell Inc will post 20.43 EPS for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $1.42 per share. 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 dividend payout ratio is presently 33.63%.

Analyst Ratings Changes

HUBB has been the topic of several research reports. UBS Group reissued a "neutral" rating and set a $515.00 price target on shares of Hubbell in a research note on Tuesday, June 16th. Morgan Stanley upped their price objective on shares of Hubbell from $565.00 to $575.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 2nd. Weiss Ratings lowered shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Hubbell in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Hubbell has an average rating of "Moderate Buy" and a consensus target price of $555.00.

Insider Transactions at Hubbell

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Inc (NYSE:HUBB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.