Hubbell Inc $HUBB Holdings Cut by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its Hubbell stake by 4.2% in the fourth quarter, selling 37,030 shares and ending with 850,345 shares worth about $377.6 million.
• Hubbell reported solid quarterly results, with EPS of $3.93 beating estimates and revenue of $1.52 billion topping expectations; revenue also rose 11.1% year over year.
• The company raised its dividend and maintained a positive analyst outlook, declaring a $1.42 quarterly dividend and receiving an average “Moderate Buy” rating with a $546.25 target price.

JPMorgan Chase & Co. lowered its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 850,345 shares of the industrial products company's stock after selling 37,030 shares during the period. JPMorgan Chase & Co. owned about 1.60% of Hubbell worth $377,648,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HUBB. Envestnet Asset Management Inc. boosted its stake 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 valued at $38,611,000 after purchasing an additional 3,542 shares during the period. DNB Asset Management AS boosted its stake in Hubbell by 4.9% during the 4th quarter. DNB Asset Management AS now owns 38,865 shares of the industrial products company's stock valued at $17,260,000 after purchasing an additional 1,832 shares during the period. Nordea Investment Management AB boosted its stake in Hubbell by 1.5% during the 4th quarter. Nordea Investment Management AB now owns 206,382 shares of the industrial products company's stock valued at $92,356,000 after purchasing an additional 2,983 shares during the period. Perigon Wealth Management LLC boosted its stake in 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 during the period. Finally, Troy Asset Management Ltd boosted its stake in Hubbell by 5.8% during the 3rd quarter. Troy Asset Management Ltd now owns 343,293 shares of the industrial products company's stock valued at $147,722,000 after purchasing an additional 18,767 shares during the period. Institutional investors own 88.16% of the company's stock.

Hubbell Stock Down 3.9%

NYSE HUBB opened at $467.28 on Thursday. Hubbell Inc has a 12 month low of $380.86 and a 12 month high of $565.50. The company's 50 day simple moving average is $502.31 and its 200 day simple moving average is $484.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.58 and a quick ratio of 0.94. The company has a market capitalization of $24.69 billion, a P/E ratio of 27.60, a PEG ratio of 2.45 and a beta of 0.91.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.87 by $0.06. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business earned $3.50 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Equities research analysts expect that Hubbell Inc will post 19.84 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on HUBB. Morgan Stanley boosted their target price on shares of Hubbell from $515.00 to $565.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 11th. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Sunday. Barclays boosted their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Wells Fargo & Company boosted their target price on shares of Hubbell from $530.00 to $560.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Stephens upped their price target on shares of Hubbell from $550.00 to $600.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $546.25.

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.

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Inc (NYSE:HUBB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.