Wellington Management Group LLP Trims Holdings in Hubbell Inc $HUBB

Key Points

• Wellington Management cut its Hubbell stake by 63% in the second quarter, selling 1.32 million shares and retaining 774,076 shares worth approximately $405 million. Institutional investors and hedge funds collectively own 88.16% of Hubbell.
• Analysts remain broadly positive, with Hubbell receiving a consensus “Moderate Buy” rating and an average price target of $553.89; Robert W. Baird set a $550 target and an “outperform” rating.
• Hubbell reported quarterly EPS of $5.52, beating estimates, while revenue rose 15.3% year over year to $1.71 billion. The company also declared a quarterly dividend of $1.42 per share, equivalent to a 1.2% yield.

Wellington Management Group LLP lessened its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 63.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 774,076 shares of the industrial products company's stock after selling 1,317,881 shares during the period. Wellington Management Group LLP owned about 1.47% of Hubbell worth $404,997,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Hubbell in the 2nd quarter worth about $2,455,986,000. Bank of New York Mellon Corp bought a new position in shares of Hubbell during the second quarter worth about $783,142,000. Deutsche Bank AG bought a new position in shares of Hubbell during the second quarter worth about $610,053,000. Bank of America Corp DE acquired a new position in Hubbell in the second quarter worth about $204,918,000. Finally, Man Group plc acquired a new position in Hubbell in the second quarter worth about $179,698,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays upped their price objective on Hubbell from $481.00 to $503.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Hubbell in a report on Wednesday, July 29th. Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Robert W. Baird started coverage on Hubbell in a research note on Thursday, August 20th. They set an "outperform" rating and a $550.00 price objective on the stock. Finally, Weiss Ratings downgraded shares of Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Hubbell currently has an average rating of "Moderate Buy" and a consensus target price of $553.89.

Insiders Place Their Bets

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the sale, the vice president directly 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 filing with the SEC, which can be accessed through this link. 0.63% of the stock is owned by corporate insiders.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $459.86 on Friday. 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 moving average price is $491.58 and its two-hundred day moving average price is $497.43. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50. The stock has a market capitalization of $24.30 billion, a P/E ratio of 27.23, a P/E/G ratio of 2.25 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly 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 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.93 EPS. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, sell-side analysts forecast that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Announces Dividend

The business 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 $1.42 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 annualized dividend and a yield of 1.2%. 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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