Corient Private Wealth LP Makes New Investment in Hubbell Inc $HUBB

Key Points

• Corient Private Wealth initiated a Hubbell position by purchasing 8,131 shares valued at approximately $4.25 million. Institutional investors collectively own 88.16% of the company.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $553.89, despite some firms maintaining neutral or downgraded ratings.
• Hubbell exceeded quarterly earnings and revenue expectations, reporting $5.52 EPS and $1.71 billion in revenue, while declaring a quarterly dividend of $1.42 per share.

Corient Private Wealth LP acquired a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,131 shares of the industrial products company's stock, valued at approximately $4,254,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ballentine Partners LLC lifted its holdings in Hubbell by 1.9% during the 4th quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company's stock worth $572,000 after buying an additional 24 shares in the last quarter. Benjamin Edwards Inc. increased 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 buying an additional 24 shares during the period. Quest Investment Management LLC increased 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 buying an additional 25 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Hubbell by 1.1% during the fourth quarter. Gulf International Bank UK Ltd now owns 2,678 shares of the industrial products company's stock worth $1,189,000 after acquiring an additional 28 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its position in shares of Hubbell by 1.7% during the first quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company's stock worth $833,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HUBB shares. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Stephens boosted their price objective on Hubbell from $550.00 to $600.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. UBS Group restated a "neutral" rating and set a $515.00 target price on shares of Hubbell in a research report on Tuesday, June 16th. Barclays upped their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an "equal weight" rating in a research report on Monday, May 4th. Finally, Weiss Ratings lowered shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $553.89.

Insider Buying and Selling at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total transaction of $283,652.32. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by corporate insiders.

Hubbell Stock Down 1.5%

Shares of Hubbell stock opened at $452.99 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. Hubbell Inc has a 12 month low of $403.82 and a 12 month high of $565.50. The business has a fifty day simple moving average of $489.86 and a 200 day simple moving average of $497.02. The stock has a market cap of $23.93 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.25 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, beating the consensus estimate 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 for 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 company's quarterly revenue was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Research analysts predict that Hubbell Inc will post 20.41 EPS for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, August 31st. Hubbell's dividend payout ratio (DPR) is currently 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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