Mediolanum International Funds Ltd Lowers Holdings in Hubbell Inc $HUBB

Key Points

• Mediolanum International Funds Ltd cut its Hubbell stake by 32.6% in the first quarter, selling 2,499 shares and ending with 5,166 shares worth about $2.44 million.
• Several other institutional investors also adjusted their positions, and institutional ownership remains high at 88.16% of Hubbell’s stock.
• Hubbell reported solid results, with Q1 EPS of $3.93 beating estimates and revenue of $1.52 billion topping expectations; analysts currently rate the stock a Moderate Buy with an average price target of $554.38.

Mediolanum International Funds Ltd decreased its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 32.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,166 shares of the industrial products company's stock after selling 2,499 shares during the period. Mediolanum International Funds Ltd's holdings in Hubbell were worth $2,439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in Hubbell by 171.9% in the 1st quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company's stock worth $795,000 after purchasing an additional 1,518 shares in the last quarter. Empowered Funds LLC grew its holdings in Hubbell by 18.9% during the 1st quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company's stock valued at $408,000 after buying an additional 196 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Hubbell by 271.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company's stock valued at $70,000 after buying an additional 155 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Hubbell during the first quarter valued at approximately $599,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Hubbell by 31.1% during the second quarter. EverSource Wealth Advisors LLC now owns 468 shares of the industrial products company's stock valued at $191,000 after buying an additional 111 shares during the last quarter. Institutional investors own 88.16% of the company's stock.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of research reports. Barclays upped their target price on shares of Hubbell from $481.00 to $503.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings downgraded shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. Stephens raised their price objective on Hubbell from $550.00 to $600.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company lifted their target price on Hubbell from $530.00 to $560.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $554.38.

Hubbell Price Performance

Hubbell stock opened at $479.64 on Wednesday. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54. The firm's fifty day moving average is $488.17 and its 200 day moving average is $496.25. The company has a market cap of $25.34 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 2.44 and a beta of 0.89.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $3.93 EPS for the quarter, topping analysts' consensus estimates of $3.87 by $0.06. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the company posted $3.50 EPS. The business's revenue was up 11.1% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Sell-side analysts forecast that Hubbell Inc will post 19.86 EPS for the current fiscal year.

Hubbell Announces Dividend

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

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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