Hubbell Inc $HUBB Position Increased by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Hubbell stake by 12.3% in Q1, ending with 231,053 shares valued at about $113.4 million.
• Hubbell’s latest quarterly results beat expectations, with EPS of $3.93 and revenue of $1.52 billion, both ahead of analyst estimates and up 11.1% year over year.
• Wall Street remains generally positive on the stock, with a Moderate Buy consensus and an average price target of $554.38, while the company also pays a quarterly dividend of $1.42 per share.

Principal Financial Group Inc. boosted its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 12.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,053 shares of the industrial products company's stock after purchasing an additional 25,278 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Hubbell worth $113,393,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HUBB. Chicago Partners Investment Group LLC acquired a new stake in Hubbell in the first quarter worth $211,000. Tevis Investment Management boosted its holdings in shares of Hubbell by 48.4% during the first quarter. Tevis Investment Management now owns 1,628 shares of the industrial products company's stock valued at $799,000 after acquiring an additional 531 shares during the period. Welch & Forbes LLC grew its position in shares of Hubbell by 1.2% during the first quarter. Welch & Forbes LLC now owns 5,087 shares of the industrial products company's stock worth $2,496,000 after acquiring an additional 60 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Hubbell by 104.1% during the first quarter. Fifth Third Bancorp now owns 20,080 shares of the industrial products company's stock worth $9,854,000 after acquiring an additional 10,240 shares during the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of Hubbell by 4.7% in the 1st quarter. Candriam S.C.A. now owns 9,022 shares of the industrial products company's stock worth $4,427,000 after acquiring an additional 402 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Performance

HUBB stock opened at $480.05 on Thursday. The company has a 50-day simple moving average of $488.68 and a 200 day simple moving average of $495.27. The company has a market capitalization of $25.37 billion, a P/E ratio of 28.35, a PEG ratio of 2.44 and a beta of 0.89. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54. Hubbell Inc has a fifty-two week low of $403.82 and a fifty-two week high of $565.50.

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

Hubbell Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Hubbell from $530.00 to $560.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Sunday, June 7th. UBS Group restated a "neutral" rating and issued a $515.00 price target on shares of Hubbell in a research note on Tuesday, June 16th. Barclays lifted their price target on Hubbell from $481.00 to $503.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. Finally, Weiss Ratings downgraded Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Hubbell presently has a consensus rating of "Moderate Buy" and an average price target of $554.38.

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.