Massachusetts Financial Services Co. MA Has $583.57 Million Stake in Hubbell Inc $HUBB

Massachusetts Financial Services Co. MA reduced its holdings in Hubbell Inc (NYSE:HUBB) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428,890 shares of the industrial products company’s stock after selling 17,867 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Hubbell were worth $583,573,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of HUBB. Central Pacific Bank Trust Division bought a new position in Hubbell in the 2nd quarter valued at $29,000. Cullen Frost Bankers Inc. increased its stake in shares of Hubbell by 400.0% in the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after buying an additional 68 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Hubbell in the first quarter valued at $53,000. Groupe la Francaise bought a new position in shares of Hubbell in the first quarter valued at about $57,000. Finally, Geneos Wealth Management Inc. lifted its position in Hubbell by 271.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after buying an additional 155 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on HUBB. Barclays raised their price objective on shares of Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. Mizuho raised their price target on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Stephens restated an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. Finally, JPMorgan Chase & Co. increased their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $477.83.

Hubbell Trading Down 1.3%

HUBB opened at $431.97 on Friday. The firm has a 50 day simple moving average of $437.81 and a 200 day simple moving average of $418.51. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $484.26. The company has a market cap of $22.96 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth 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 released its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $1.42 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, November 28th. Hubbell’s dividend payout ratio is currently 35.24%.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $470.32, for a total value of $945,813.52. Following the transaction, the insider owned 3,243 shares of the company’s stock, valued at approximately $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the transaction, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.66% of the company’s stock.

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.