Crossmark Global Holdings Inc. Reduces Stock Position in Hubbell Inc $HUBB

Key Points

• Crossmark Global Holdings cut its Hubbell stake by 55.5% in the fourth quarter, leaving it with 2,142 shares valued at about $951,000.
• Despite mixed activity from some investors, hedge funds and other institutions still own 88.16% of Hubbell’s stock, and several firms recently increased their positions.
• Hubbell reported strong quarterly results, topping earnings and revenue estimates, and the company also announced a $1.42 per-share quarterly dividend payable on June 15.

Crossmark Global Holdings Inc. reduced its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 55.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,142 shares of the industrial products company's stock after selling 2,667 shares during the period. Crossmark Global Holdings Inc.'s holdings in Hubbell were worth $951,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in Hubbell by 4.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 89,729 shares of the industrial products company's stock worth $38,611,000 after acquiring an additional 3,542 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Hubbell by 64.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,879 shares of the industrial products company's stock valued at $1,669,000 after purchasing an additional 1,514 shares during the period. Nordea Investment Management AB boosted its holdings in Hubbell by 15.7% in the 3rd quarter. Nordea Investment Management AB now owns 203,399 shares of the industrial products company's stock valued at $87,333,000 after purchasing an additional 27,576 shares during the period. Perigon Wealth Management LLC grew its position in shares of Hubbell by 32.4% during the 4th quarter. Perigon Wealth Management LLC now owns 16,600 shares of the industrial products company's stock valued at $7,372,000 after purchasing an additional 4,060 shares in the last quarter. Finally, Walter Public Investments Inc. increased its holdings in shares of Hubbell by 33.3% in the third quarter. Walter Public Investments Inc. now owns 35,086 shares of the industrial products company's stock worth $15,098,000 after purchasing an additional 8,774 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HUBB shares. Mizuho set a $575.00 price objective on Hubbell in a research report on Wednesday, February 4th. Stephens boosted their target price on Hubbell from $550.00 to $600.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Hubbell in a report on Thursday, January 22nd. Wells Fargo & Company lifted their price target on Hubbell from $530.00 to $560.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Barclays boosted their price objective on Hubbell from $481.00 to $503.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $546.25.

Hubbell Stock Down 0.5%

Shares of NYSE:HUBB opened at $483.79 on Thursday. The firm has a market capitalization of $25.72 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 1.58. Hubbell Inc has a 52-week low of $374.68 and a 52-week high of $565.50. The firm has a fifty day moving average of $504.88 and a 200 day moving average of $480.80.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, beating analysts' consensus estimates of $3.87 by $0.06. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $3.50 earnings per share. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. As a group, research analysts anticipate that Hubbell Inc will post 19.81 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. Hubbell's dividend payout ratio (DPR) is currently 33.55%.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 2,601 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider owned 2,592 shares in the company, valued at $1,357,508.16. The trade was a 50.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.63% of the stock is owned by insiders.

Hubbell Company 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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