Gabelli Funds LLC Decreases Stock Position in Hubbell Inc $HUBB

Key Points

• Gabelli Funds LLC cut its Hubbell stake by 17.3% in the fourth quarter, selling 3,125 shares and leaving it with 14,950 shares valued at about $6.64 million.
• Hubbell posted better-than-expected quarterly results, with earnings of $3.93 per share versus estimates of $3.87 and revenue of $1.52 billion versus expectations of $1.50 billion. Revenue rose 11.1% year over year.
• The company declared a quarterly dividend of $1.42 per share, payable June 15, and analysts remain constructive with a consensus price target of $546.25 and a “Moderate Buy” rating.

Gabelli Funds LLC lowered its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,950 shares of the industrial products company's stock after selling 3,125 shares during the period. Gabelli Funds LLC's holdings in Hubbell were worth $6,639,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Hubbell by 3.6% in the third quarter. State Street Corp now owns 2,261,944 shares of the industrial products company's stock worth $973,337,000 after buying an additional 78,539 shares during the period. Wellington Management Group LLP increased its holdings in shares of Hubbell by 18.5% in the third quarter. Wellington Management Group LLP now owns 1,045,931 shares of the industrial products company's stock worth $450,075,000 after buying an additional 163,626 shares during the period. Boston Partners increased its holdings in shares of Hubbell by 30.7% in the third quarter. Boston Partners now owns 736,469 shares of the industrial products company's stock worth $316,521,000 after buying an additional 172,990 shares during the period. Northern Trust Corp increased its holdings in shares of Hubbell by 1.1% in the third quarter. Northern Trust Corp now owns 530,272 shares of the industrial products company's stock worth $228,181,000 after buying an additional 5,806 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Hubbell by 9.4% in the third quarter. Dimensional Fund Advisors LP now owns 476,560 shares of the industrial products company's stock worth $205,055,000 after buying an additional 40,962 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

Hubbell stock opened at $462.51 on Thursday. The stock's 50 day simple moving average is $503.72 and its two-hundred day simple moving average is $481.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 1.58. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.33 and a beta of 0.95. Hubbell Inc has a fifty-two week low of $374.68 and a fifty-two week high of $565.50.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.06. The business had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The business's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.50 EPS. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. As a group, analysts expect that Hubbell Inc will post 19.83 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Hubbell from $478.00 to $532.00 and gave the stock a "neutral" rating in a report on Wednesday, February 4th. Evercore lifted their price objective on Hubbell from $575.00 to $585.00 and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Wells Fargo & Company lifted their price objective on Hubbell from $530.00 to $560.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Barclays lifted 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. Finally, Morgan Stanley raised their target price on Hubbell from $515.00 to $565.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 11th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Hubbell has an average rating of "Moderate Buy" and a consensus price target of $546.25.

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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