Jain Global LLC Sells 22,523 Shares of Hubbell Inc $HUBB

Key Points

• Jain Global LLC cut its Hubbell stake by 27.8%, selling 22,523 shares in Q3 and now holding 58,447 shares valued at about $25.15 million.
• Insiders have sold 34,689 shares worth roughly $17.4 million over the past 90 days, while institutional investors own about 88.16% of HUBB stock.
• Analysts carry an average rating of “Moderate Buy” with a consensus price target of $536, and several firms have recently raised targets (Wells Fargo to $550, Mizuho to $575).

Jain Global LLC lessened its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 27.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,447 shares of the industrial products company's stock after selling 22,523 shares during the quarter. Jain Global LLC owned 0.11% of Hubbell worth $25,150,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HUBB. Vanguard Group Inc. lifted its holdings in shares of Hubbell by 0.3% during the second quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company's stock valued at $2,714,669,000 after acquiring an additional 21,508 shares during the period. State Street Corp increased its position in shares of Hubbell by 1.2% during the 2nd quarter. State Street Corp now owns 2,183,405 shares of the industrial products company's stock worth $891,724,000 after purchasing an additional 26,708 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Hubbell by 15.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company's stock worth $712,484,000 after purchasing an additional 226,856 shares in the last quarter. Invesco Ltd. lifted its holdings in Hubbell by 0.6% during the 2nd quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company's stock valued at $625,698,000 after purchasing an additional 9,697 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Hubbell by 18.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,045,931 shares of the industrial products company's stock valued at $450,075,000 after purchasing an additional 163,626 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HUBB shares. Mizuho set a $575.00 price objective on shares of Hubbell in a research note on Wednesday, February 4th. UBS Group reiterated a "neutral" rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, December 12th. Wells Fargo & Company boosted their target price on Hubbell from $515.00 to $550.00 and gave the stock an "overweight" rating in a report on Wednesday, February 4th. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, March 7th. Finally, Barclays raised their price target on Hubbell from $465.00 to $481.00 and gave the company an "equal weight" rating in a report on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $536.00.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 2,601 shares of the business's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $523.73, for a total transaction of $1,362,221.73. Following the completion of the sale, the insider owned 2,592 shares in the company, valued at $1,357,508.16. The trade was a 50.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Katherine Anne Lane sold 4,610 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $505.60, for a total value of $2,330,816.00. Following the transaction, the vice president directly owned 14,913 shares in the company, valued at $7,540,012.80. This trade represents a 23.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,689 shares of company stock valued at $17,407,395 over the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

Hubbell Trading Down 0.2%

Shares of NYSE HUBB opened at $467.52 on Monday. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $533.80. The company has a market cap of $24.85 billion, a PE ratio of 28.05, a P/E/G ratio of 2.36 and a beta of 1.00. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $493.98 and a two-hundred day moving average of $457.58.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The industrial products company reported $4.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.03. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. Hubbell had a net margin of 15.29% and a return on equity of 27.45%. Hubbell's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.10 earnings per share. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. As a group, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $5.68 annualized dividend and a yield of 1.2%. Hubbell's dividend payout ratio is currently 34.07%.

About Hubbell

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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