Hubbell Inc $HUBB Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 104.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,080 shares of the industrial products company's stock after buying an additional 10,240 shares during the quarter. Fifth Third Bancorp's holdings in Hubbell were worth $9,854,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Hubbell by 140.4% in the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company's stock worth $1,116,773,000 after acquiring an additional 1,468,701 shares in the last quarter. Boston Partners grew its stake in shares of Hubbell by 37.8% during the 4th quarter. Boston Partners now owns 1,015,118 shares of the industrial products company's stock worth $452,675,000 after purchasing an additional 278,649 shares during the period. Troy Asset Management Ltd grew its stake in shares of Hubbell by 60.7% during the 4th quarter. Troy Asset Management Ltd now owns 551,620 shares of the industrial products company's stock worth $244,980,000 after purchasing an additional 208,327 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Hubbell by 355.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 222,485 shares of the industrial products company's stock valued at $95,738,000 after purchasing an additional 173,668 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in shares of Hubbell in the 2nd quarter valued at about $68,164,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Performance

Shares of HUBB opened at $480.05 on Thursday. Hubbell Inc has a 1 year low of $403.82 and a 1 year high of $565.50. The company's 50 day simple moving average is $488.68 and its 200 day simple moving average is $495.27. The company has a market capitalization of $25.37 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 2.44 and a beta of 0.89. 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 (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 (EPS) for the quarter, topping 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 quarter last year, the firm earned $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. On average, sell-side analysts predict that Hubbell Inc will post 19.83 EPS for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 29th. Hubbell's dividend payout ratio (DPR) is presently 33.55%.

Analysts Set New Price Targets

HUBB has been the subject of several recent analyst reports. UBS Group reiterated a "neutral" rating and issued a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Barclays increased their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. Stephens lifted their price target on shares of Hubbell from $550.00 to $600.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Wells Fargo & Company boosted their price target on Hubbell from $530.00 to $560.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Weiss Ratings cut Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $554.38.

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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