SailingStone Capital Partners LLC Grows Stock Holdings in Hubbell Inc $HUBB

SailingStone Capital Partners LLC boosted its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 128.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,328 shares of the industrial products company's stock after buying an additional 15,368 shares during the period. Hubbell accounts for approximately 2.8% of SailingStone Capital Partners LLC's holdings, making the stock its 13th biggest position. SailingStone Capital Partners LLC owned about 0.05% of Hubbell worth $14,298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. California State Teachers Retirement System lifted its position in shares of Hubbell by 48,520.9% in the second quarter. California State Teachers Retirement System now owns 39,838,018 shares of the industrial products company's stock valued at $20,843,251,000 after acquiring an additional 39,756,082 shares in the last quarter. BlackRock Inc. bought a new stake in Hubbell during the 2nd quarter valued at approximately $2,455,986,000. Wellington Management Group LLP raised its stake in Hubbell by 140.4% during the 4th quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company's stock valued at $1,116,773,000 after purchasing an additional 1,468,701 shares during the period. State Street Corp raised its stake in Hubbell by 1.8% during the 4th quarter. State Street Corp now owns 2,302,567 shares of the industrial products company's stock valued at $1,022,593,000 after purchasing an additional 40,623 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Hubbell in the 2nd quarter worth approximately $783,142,000. 88.16% of the stock is owned by institutional investors.

Insider Activity at Hubbell

In related 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 value of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares in the company, valued at approximately $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.63% of the company's stock.

Hubbell Trading Down 2.0%

HUBB stock opened at $455.38 on Thursday. The firm has a fifty day moving average price of $481.68 and a 200 day moving average price of $493.81. Hubbell Inc has a fifty-two week low of $403.82 and a fifty-two week high of $565.50. 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 firm has a market cap of $24.06 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89.

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

Hubbell Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Hubbell in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings cut shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. UBS Group reiterated a "neutral" rating and issued a $515.00 price target on shares of Hubbell in a research note on Tuesday, June 16th. Finally, Robert W. Baird began coverage on Hubbell in a research report on Thursday, August 20th. They set an "outperform" rating and a $550.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $555.00.

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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