Viking Fund Management LLC Makes New $9.98 Million Investment in Hubbell Inc $HUBB

Key Points

• Viking Fund Management acquired 22,000 Hubbell shares worth approximately $9.98 million in the third quarter. Institutional investors own 88.16% of the company, following several large new positions from major asset managers.
• Analysts maintain a generally positive outlook, with Hubbell carrying a consensus “Moderate Buy” rating and an average price target of $556.78.
• Hubbell exceeded quarterly earnings and revenue expectations, reporting $5.52 in EPS and $1.71 billion in revenue, while offering FY 2026 EPS guidance of $20.25–$20.55 and paying a quarterly dividend of $1.42.

Viking Fund Management LLC acquired a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,000 shares of the industrial products company's stock, valued at approximately $9,979,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Hubbell during the second quarter worth about $2,455,986,000. Bank of New York Mellon Corp bought a new position in Hubbell in the 2nd quarter valued at about $783,142,000. Deutsche Bank AG acquired a new position in Hubbell during the 2nd quarter valued at about $610,053,000. Bank of America Corp DE acquired a new position in Hubbell during the 2nd quarter valued at about $204,918,000. Finally, Man Group plc acquired a new position in Hubbell during the 2nd quarter valued at about $179,698,000. 88.16% of the stock is owned by institutional investors.

Insider Buying and Selling at Hubbell

In related news, VP Jonathan Del Nero sold 547 shares of the stock in a transaction dated 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 transaction, the vice president owned 2,933 shares in the company, valued at approximately $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.63% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HUBB shares. Robert W. Baird assumed coverage on Hubbell in a report on Thursday, August 20th. They issued an "outperform" rating and a $550.00 target price on the stock. Evercore reiterated an "outperform" rating and set a $630.00 price target on shares of Hubbell in a report on Friday, October 9th. Weiss Ratings upgraded Hubbell from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Morgan Stanley increased their price target on Hubbell from $565.00 to $575.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Hubbell currently has a consensus rating of "Moderate Buy" and a consensus price target of $556.78.

Hubbell Stock Performance

HUBB stock opened at $472.04 on Thursday. 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 has a market cap of $24.94 billion, a PE ratio of 27.95, a P/E/G ratio of 2.38 and a beta of 0.85. The business has a 50 day moving average of $470.89 and a 200-day moving average of $488.49. Hubbell Inc has a 12-month low of $403.82 and a 12-month high of $565.50.

Hubbell (NYSE:HUBB - Get Free Report) last posted 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. The business had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.66 billion. Hubbell had a return on equity of 27.11% and a net margin of 14.49%. The business's revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, sell-side analysts expect that Hubbell Inc will post 20.45 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were 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 of this dividend was Monday, August 31st. Hubbell's payout ratio is 33.63%.

About Hubbell

Hubbell Incorporated NYSE: HUBB designs and manufactures electrical and utility products used to support the generation, transmission, distribution and control of electricity. The company serves electric utilities, electrical contractors, industrial businesses, commercial facilities and communications infrastructure providers.

Its Utility Solutions products include transmission and distribution equipment, connectors, insulators, arresters, grounding and bonding products, substation equipment, and enclosures for underground electrical systems.

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