National Pension Service Increases Position in Hubbell Inc $HUBB

Key Points

• National Pension Service increased its Hubbell position by 4.7% in the second quarter, bringing its holdings to 90,320 shares valued at approximately $47.3 million. Institutional investors and hedge funds collectively own 88.16% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $555. Morgan Stanley raised its target to $575 while maintaining an “equal weight” rating.
• Hubbell exceeded quarterly earnings and revenue expectations, reporting $5.52 in EPS and $1.71 billion in revenue. The company also declared a quarterly dividend of $1.42 per share, equivalent to a 1.2% annual yield.

National Pension Service raised its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,320 shares of the industrial products company's stock after buying an additional 4,040 shares during the period. National Pension Service owned about 0.17% of Hubbell worth $47,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. California State Teachers Retirement System lifted its stake in Hubbell by 48,520.9% during the 2nd quarter. California State Teachers Retirement System now owns 39,838,018 shares of the industrial products company's stock worth $20,843,251,000 after acquiring an additional 39,756,082 shares in the last quarter. BlackRock Inc. acquired a new position in Hubbell in the 2nd quarter valued at about $2,455,986,000. Bank of New York Mellon Corp purchased a new stake in Hubbell during the second quarter worth about $783,142,000. Wellington Management Group LLP increased its stake in Hubbell by 140.4% during 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 purchasing an additional 1,468,701 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of Hubbell during the second quarter worth about $610,053,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Sanford C. Bernstein reissued an "outperform" rating on shares of Hubbell in a research note on Wednesday, July 29th. Morgan Stanley upped their target price on shares of 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 lowered shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Robert W. Baird initiated coverage on shares of Hubbell in a research note on Thursday, August 20th. They issued an "outperform" rating and a $550.00 price target for the company. One research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $555.00.

Hubbell Stock Performance

Shares of HUBB opened at $460.87 on Friday. The stock has a 50-day simple moving average of $480.47 and a 200-day simple moving average of $493.06. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 1.61. The stock has a market capitalization of $24.35 billion, a PE ratio of 27.29, a PEG ratio of 2.25 and a beta of 0.89. Hubbell Inc has a 1 year low of $403.82 and a 1 year high of $565.50.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell's dividend payout ratio (DPR) is presently 33.63%.

Insider Buying and Selling at Hubbell

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

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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