Hubbell Inc $HUBB Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group reduced its Hubbell stake by 8.3% in the second quarter, selling 4,456 shares and retaining 49,002 shares valued at approximately $25.6 million. Institutional investors and hedge funds collectively own 88.16% of HUBB.
• Analyst sentiment remains favorable, with Hubbell carrying a “Moderate Buy” consensus rating and an average price target of $555. Morgan Stanley raised its target to $575, while other analysts maintained Buy or Outperform ratings.
• Hubbell reported quarterly EPS of $5.52, surpassing estimates of $5.39, while revenue rose 15.3% year over year to $1.71 billion. The company also declared a $1.42 quarterly dividend, equal to a 1.3% annualized yield.

Baird Financial Group Inc. cut its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,002 shares of the industrial products company's stock after selling 4,456 shares during the period. Baird Financial Group Inc. owned 0.09% of Hubbell worth $25,638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HUBB. Pinnacle Bancorp Inc. boosted its stake in Hubbell by 165.0% in the first quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 33 shares during the period. Raiffeisen Bank International AG raised its position in shares of Hubbell by 83.3% during the 4th quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company's stock worth $29,000 after purchasing an additional 30 shares during the period. Schuylkill Financial LLC acquired a new stake in shares of Hubbell during the 2nd quarter worth approximately $30,000. Leonteq Securities AG bought a new stake in shares of Hubbell in the 1st quarter worth approximately $33,000. Finally, DV Equities LLC bought a new stake in shares of Hubbell in the 4th quarter worth approximately $33,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HUBB shares. Morgan Stanley upped their price objective on Hubbell from $565.00 to $575.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 2nd. Weiss Ratings cut Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Sanford C. Bernstein restated an "outperform" rating on shares of Hubbell in a research report on Wednesday, July 29th. Robert W. Baird assumed coverage on shares of Hubbell in a report on Thursday, August 20th. They issued an "outperform" rating and a $550.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Hubbell presently has an average rating of "Moderate Buy" and a consensus target price of $555.00.

Hubbell Trading Down 0.6%

NYSE:HUBB opened at $452.29 on Friday. The stock has a fifty day simple moving average of $480.99 and a 200 day simple moving average of $493.29. The firm has a market capitalization of $23.89 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 2.23 and a beta of 0.89. Hubbell Inc has a 1-year low of $403.82 and a 1-year high of $565.50. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, beating analysts' consensus estimates of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm earned $4.93 earnings per share. The business's quarterly revenue was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Sell-side analysts forecast that Hubbell Inc will post 20.43 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. Hubbell's dividend payout ratio (DPR) is presently 33.63%.

Insider Buying and Selling

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the transaction, the vice president owned 2,933 shares in the company, valued at $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is owned by company insiders.

About Hubbell

Hubbell Incorporated NYSE: HUBB is a manufacturer of electrical and utility products used to build, connect, protect and maintain electrical systems. The company serves electric utilities, electrical contractors, distributors, telecommunications providers, industrial businesses and commercial customers.

Hubbell operates through two principal business areas: Utility Solutions and Electrical Solutions. Its product portfolio includes components for electric transmission, distribution and substation applications, as well as connectors, insulators, arresters, grounding and bonding equipment, wiring devices, lighting products, enclosures and other electrical system products.

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