The Manufacturers Life Insurance Company Makes New Investment in Hubbell Inc $HUBB

Key Points

• The Manufacturers Life Insurance Company acquired 26,677 Hubbell shares worth approximately $13.96 million in the second quarter. Institutional investors collectively own 88.16% of HUBB.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a consensus price target of $553.89. Hubbell recently exceeded quarterly earnings and revenue estimates and raised expectations for continued growth.
• Hubbell shares opened at $459.86, down from recent moving-average levels, while the company announced a quarterly dividend of $1.42 per share, equivalent to a 1.2% annualized yield.

The Manufacturers Life Insurance Company acquired a new position in Hubbell Inc (NYSE:HUBB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,677 shares of the industrial products company's stock, valued at approximately $13,957,000. The Manufacturers Life Insurance Company owned about 0.05% of Hubbell as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HUBB. BlackRock Inc. purchased a new stake in Hubbell in the 2nd quarter valued at $2,455,986,000. Wellington Management Group LLP boosted its holdings 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 worth $1,116,773,000 after acquiring an additional 1,468,701 shares during the last quarter. State Street Corp boosted its holdings 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 worth $1,022,593,000 after acquiring an additional 40,623 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Hubbell in the 2nd quarter worth $783,142,000. Finally, Geode Capital Management LLC grew its stake in shares of Hubbell by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company's stock worth $608,704,000 after acquiring an additional 10,898 shares in the last quarter. Institutional investors own 88.16% of the company's stock.

Insider Buying and Selling at Hubbell

In other news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction dated Tuesday, August 11th. The shares were 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 $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HUBB. Stephens raised their price target on shares of Hubbell from $550.00 to $600.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Barclays increased their price objective on shares of Hubbell from $481.00 to $503.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Robert W. Baird started coverage on shares of Hubbell in a research report on Thursday, August 20th. They set an "outperform" rating and a $550.00 target price on the stock. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Hubbell in a research report on Wednesday, July 29th. One investment 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $553.89.

Hubbell Stock Down 2.2%

Shares of NYSE HUBB opened at $459.86 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93. The stock has a market capitalization of $24.29 billion, a PE ratio of 27.23, a P/E/G ratio of 2.30 and a beta of 0.90. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50. The business's fifty day moving average price is $491.58 and its 200-day moving average price is $497.43.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.13. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $4.93 EPS. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, equities research analysts anticipate that Hubbell Inc will post 20.41 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $1.42 per share. 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 dividend payout ratio (DPR) is currently 33.63%.

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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