NewEdge Advisors LLC Sells 3,144 Shares of Hubbell Inc $HUBB

Key Points

• NewEdge Advisors cut its Hubbell stake by 85% in the first quarter, selling 3,144 shares and retaining 555 shares valued at approximately $272,000. Institutional investors collectively own 88.16% of Hubbell.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $553.89, above Hubbell’s recent $466.72 share price.
• Hubbell exceeded quarterly earnings and revenue expectations, reporting $5.52 in adjusted EPS and $1.71 billion in revenue, while revenue rose 15.3% year over year. The company also declared a quarterly dividend of $1.42, equivalent to a 1.2% annual yield.

NewEdge Advisors LLC trimmed its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 85.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 555 shares of the industrial products company's stock after selling 3,144 shares during the quarter. NewEdge Advisors LLC's holdings in Hubbell were worth $272,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. grew its stake in Hubbell by 165.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 33 shares during the period. Raiffeisen Bank International AG raised its stake 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. Leonteq Securities AG bought a new stake in shares of Hubbell during the 1st quarter worth $33,000. DV Equities LLC purchased a new position in shares of Hubbell in the 4th quarter worth about $33,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Hubbell in the 3rd quarter worth about $33,000. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HUBB shares. Barclays raised their price objective on shares of Hubbell from $481.00 to $503.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Stephens boosted their target price on shares of Hubbell from $550.00 to $600.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. Wells Fargo & Company increased their target price on shares of Hubbell from $530.00 to $560.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Weiss Ratings lowered shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Hubbell in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Hubbell currently has a consensus rating of "Moderate Buy" and an average price target of $553.89.

Insiders Place Their Bets

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the business's 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 sale, the vice president owned 2,933 shares of the company's stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.63% of the company's stock.

Hubbell Price Performance

NYSE HUBB opened at $466.72 on Tuesday. The company has a market cap of $24.66 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. 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 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. The firm's 50-day simple moving average is $495.45 and its two-hundred day simple moving average is $498.18.

Hubbell (NYSE:HUBB - Get Free Report) last issued 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 during 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 company's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business earned $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Research analysts predict that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Announces Dividend

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

Hubbell 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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