Resona Asset Management Co. Ltd. Has $7.52 Million Stock Position in Hubbell Inc $HUBB

Resona Asset Management Co. Ltd. increased its stake in shares of Hubbell Inc (NYSE:HUBB) by 9.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,414 shares of the industrial products company’s stock after purchasing an additional 1,633 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Hubbell were worth $7,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. McKinley Carter Wealth Services Inc. lifted its stake in Hubbell by 16.7% in the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock valued at $8,098,000 after buying an additional 2,843 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Hubbell during the second quarter worth $320,000. Venturi Wealth Management LLC acquired a new stake in shares of Hubbell during the second quarter worth $490,000. Zurich Insurance Group Ltd FI bought a new stake in Hubbell in the 1st quarter valued at $1,423,000. Finally, Stratos Wealth Partners LTD. boosted its stake in Hubbell by 29.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 360 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB stock opened at $462.40 on Friday. The company has a fifty day moving average price of $436.38 and a two-hundred day moving average price of $415.37. Hubbell Inc has a one year low of $299.42 and a one year high of $484.26. The stock has a market cap of $24.57 billion, a P/E ratio of 28.68, a P/E/G ratio of 2.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the firm earned $4.49 EPS. Hubbell’s quarterly revenue was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities analysts predict that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s payout ratio is 35.24%.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total value of $1,152,255.00. Following the transaction, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $470.32, for a total transaction of $945,813.52. Following the completion of the transaction, the insider directly owned 3,243 shares in the company, valued at $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on HUBB shares. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Barclays lifted their target price on Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Mizuho upped their price target on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $477.83.

About Hubbell

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.