California State Teachers Retirement System Sells 5,793 Shares of Hubbell Inc $HUBB

California State Teachers Retirement System lessened its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 7.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 76,143 shares of the industrial products company's stock after selling 5,793 shares during the quarter. California State Teachers Retirement System owned about 0.14% of Hubbell worth $39,838,018 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Hubbell in the second quarter valued at approximately $2,455,986,000. Bank of New York Mellon Corp bought a new stake in Hubbell in the second quarter worth $783,142,000. Geode Capital Management LLC increased its holdings in shares of Hubbell by 0.8% in 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 acquiring an additional 10,898 shares during the period. Deutsche Bank AG acquired a new stake in Hubbell during the 2nd quarter worth about $610,053,000. Finally, Boston Partners lifted its holdings in Hubbell by 37.8% in the 4th quarter. Boston Partners now owns 1,015,118 shares of the industrial products company's stock valued at $452,675,000 after purchasing an additional 278,649 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insiders Place Their Bets

In related news, VP Jonathan Del Nero sold 547 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the transaction, the vice president owned 2,933 shares in the company, valued at approximately $1,520,936.48. This represents a 15.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on HUBB. Robert W. Baird assumed coverage on Hubbell in a report on Thursday, August 20th. They issued an "outperform" rating and a $550.00 price target for the company. Morgan Stanley lifted their price objective on Hubbell from $565.00 to $575.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 2nd. UBS Group restated a "neutral" rating and issued a $515.00 price target on shares of Hubbell in a research report on Tuesday, June 16th. Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings lowered shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $555.00.

Hubbell Stock Performance

Hubbell stock traded down $3.72 during mid-day trading on Tuesday, hitting $438.66. The company had a trading volume of 192,262 shares, compared to its average volume of 581,697. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 2.25 and a beta of 0.89. 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 company's fifty day moving average is $479.41 and its 200-day moving average is $492.30. Hubbell Inc has a 12-month low of $403.82 and a 12-month high of $565.50.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the firm posted $4.93 earnings per share. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Equities research analysts predict that Hubbell Inc will post 20.43 EPS for the current 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 paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, August 31st. Hubbell's payout ratio is 33.63%.

Hubbell Profile

Hubbell Incorporated NYSE: HUBB is a manufacturer of electrical and utility products used to build, connect, protect and maintain electrical systems. The company serves electric utilities, electrical contractors, distributors, telecommunications providers, industrial businesses and commercial customers.

Hubbell operates through two principal business areas: Utility Solutions and Electrical Solutions. Its product portfolio includes components for electric transmission, distribution and substation applications, as well as connectors, insulators, arresters, grounding and bonding equipment, wiring devices, lighting products, enclosures and other electrical system products.

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