Concurrent Investment Advisors LLC Invests $1.51 Million in Hubbell Inc $HUBB

Key Points

• Concurrent Investment Advisors LLC initiated a new position in Hubbell (NYSE: HUBB), acquiring 3,397 shares valued at about $1.51 million during Q4, and institutional investors own roughly 88.16% of the company.
• Insiders have been net sellers, disposing of 34,689 shares worth $17.41 million in the past three months (insider ownership now ~0.63%), including sales by VP Nero Jonathan M. Del and Mark Eugene Mikes at roughly $500.60 and $523.73 per share respectively.
• Analysts hold a consensus rating of Moderate Buy with a consensus price target of $533.50 while Hubbell trades near $546, and the company announced a quarterly dividend of $1.42 (annualized $5.68, ~1.0% yield).

Concurrent Investment Advisors LLC acquired a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,397 shares of the industrial products company's stock, valued at approximately $1,508,000.

Several other hedge funds have also made changes to their positions in HUBB. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Hubbell by 147.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company's stock worth $25,000 after purchasing an additional 34 shares during the last quarter. NBT Bank N A NY acquired a new stake in shares of Hubbell during the fourth quarter worth $27,000. Hantz Financial Services Inc. boosted its holdings in shares of Hubbell by 141.4% during the third quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company's stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Hubbell by 62.8% during the fourth quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company's stock worth $31,000 after purchasing an additional 27 shares during the last quarter. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Hubbell by 630.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 73 shares of the industrial products company's stock worth $32,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insiders Place Their Bets

In other news, VP Nero Jonathan M. Del sold 2,245 shares of Hubbell stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $500.60, for a total transaction of $1,123,847.00. Following the sale, the vice president directly owned 2,769 shares of the company's stock, valued at approximately $1,386,161.40. The trade was a 44.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Eugene Mikes sold 2,601 shares of Hubbell stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $523.73, for a total value of $1,362,221.73. Following the sale, the insider directly owned 2,592 shares in the company, valued at approximately $1,357,508.16. The trade was a 50.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,689 shares of company stock valued at $17,407,395 in the last three months. 0.63% of the stock is owned by insiders.

Analysts Set New Price Targets

HUBB has been the topic of a number of research analyst reports. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Sunday. Evercore lifted their target price on Hubbell from $575.00 to $585.00 and gave the company an "outperform" rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. lifted their target price on Hubbell from $478.00 to $532.00 and gave the company a "neutral" rating in a report on Wednesday, February 4th. Stephens reiterated an "overweight" rating and issued a $550.00 target price on shares of Hubbell in a report on Thursday, February 5th. Finally, Morgan Stanley lifted their target price on Hubbell from $515.00 to $565.00 and gave the company an "equal weight" rating in a report on Wednesday, March 11th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $533.50.

Hubbell Trading Up 0.2%

Shares of HUBB opened at $546.05 on Thursday. The stock's 50-day moving average is $509.13 and its two-hundred day moving average is $476.70. The stock has a market cap of $29.03 billion, a PE ratio of 32.76, a P/E/G ratio of 2.81 and a beta of 1.00. Hubbell Inc has a 12 month low of $341.03 and a 12 month high of $565.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.72 and a quick ratio of 1.00.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $4.73 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.03. Hubbell had a return on equity of 27.45% and a net margin of 15.29%.The company had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the previous year, the firm posted $4.10 earnings per share. The firm's quarterly revenue was up 11.9% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. Equities analysts forecast that Hubbell Inc will post 19.79 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Hubbell's payout ratio is presently 34.07%.

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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