Mechanics Financial Corp Lowers Stock Holdings in Hubbell Inc $HUBB

Mechanics Financial Corp trimmed its holdings in shares of Hubbell Inc (NYSE:HUBB) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,855 shares of the industrial products company’s stock after selling 65 shares during the period. Hubbell makes up approximately 0.8% of Mechanics Financial Corp’s holdings, making the stock its 24th largest position. Mechanics Financial Corp’s holdings in Hubbell were worth $1,983,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HUBB. Nuveen LLC purchased a new position in shares of Hubbell during the first quarter valued at approximately $213,283,000. Adage Capital Partners GP L.L.C. raised its holdings in Hubbell by 181.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after acquiring an additional 628,886 shares during the last quarter. Deutsche Bank AG raised its holdings in Hubbell by 35.1% in the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock worth $365,353,000 after acquiring an additional 287,047 shares during the last quarter. Parnassus Investments LLC purchased a new position in Hubbell in the 1st quarter worth approximately $57,432,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Hubbell by 848.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 191,748 shares of the industrial products company’s stock worth $78,312,000 after acquiring an additional 171,535 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Down 1.6%

NYSE:HUBB opened at $423.75 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. The company has a market cap of $22.52 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. The company has a 50 day simple moving average of $433.43 and a two-hundred day simple moving average of $396.24.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Research analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s payout ratio is presently 34.29%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HUBB shares. Wells Fargo & Company upgraded shares of Hubbell from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Barclays boosted their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Stephens restated an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $472.63.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.