Hubbell Inc $HUBB Stock Position Raised by Sterling Capital Management LLC

Key Points

• Sterling Capital Management increased its Hubbell position by 2,160.1% in the third quarter, adding 37,500 shares for a total holding of 39,236 shares valued at approximately $17.8 million.
• Institutional ownership remains high at 88.16%, with major investors including BlackRock, Bank of New York Mellon, Deutsche Bank, Bank of America, and Man Group establishing or increasing positions.
• Analysts maintain a generally positive outlook, with Hubbell receiving a “Moderate Buy” consensus rating and an average price target of $552.67. The company also exceeded quarterly earnings and revenue expectations, reporting $5.52 in EPS and $1.71 billion in revenue.

Sterling Capital Management LLC lifted its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 2,160.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,236 shares of the industrial products company's stock after buying an additional 37,500 shares during the period. Sterling Capital Management LLC owned approximately 0.07% of Hubbell worth $17,798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Hubbell in the 2nd quarter worth approximately $2,455,986,000. Bank of New York Mellon Corp purchased a new stake in shares of Hubbell in the second quarter valued at approximately $783,142,000. Deutsche Bank AG purchased a new stake in shares of Hubbell in the second quarter valued at approximately $610,053,000. Bank of America Corp DE purchased a new stake in shares of Hubbell in the second quarter valued at approximately $204,918,000. Finally, Man Group plc acquired a new stake in shares of Hubbell in the second quarter valued at approximately $179,698,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on HUBB shares. Morgan Stanley set a $600.00 price objective on Hubbell in a research report on Friday, October 16th. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Robert W. Baird assumed coverage on Hubbell in a report on Thursday, August 20th. They issued an "outperform" rating and a $550.00 target price for the company. Weiss Ratings raised Hubbell from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, Wells Fargo & Company began coverage on Hubbell in a report on Thursday, September 24th. They set an "equal weight" rating and a $531.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $552.67.

Insider Activity at Hubbell

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

Hubbell Trading Up 0.5%

Shares of HUBB stock traded up $2.32 during trading hours on Friday, hitting $448.12. The company had a trading volume of 500,658 shares, compared to its average volume of 514,716. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93. The stock has a market capitalization of $23.68 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.85. The company's fifty day moving average is $463.36 and its 200 day moving average is $486.98. 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 announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business earned $4.93 EPS. Hubbell's revenue for the quarter was up 15.3% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Research analysts expect that Hubbell Inc will post 20.50 earnings per share for the current fiscal year.

Hubbell Company Profile

Hubbell Incorporated NYSE: HUBB is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell's Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.

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.