Mediolanum International Funds Ltd Purchases 666 Shares of Hubbell Inc $HUBB

Mediolanum International Funds Ltd increased its holdings in Hubbell Inc (NYSE:HUBB) by 12.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,026 shares of the industrial products company’s stock after purchasing an additional 666 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Hubbell were worth $2,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Hubbell in the 1st quarter worth approximately $213,283,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Hubbell by 181.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after acquiring an additional 628,886 shares in the last quarter. Boston Partners purchased a new stake in Hubbell in the second quarter worth $230,200,000. Mirova US LLC bought a new stake in Hubbell in the second quarter valued at $139,386,000. Finally, Deutsche Bank AG boosted its holdings in Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock valued at $365,353,000 after acquiring an additional 287,047 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 2,011 shares of the firm’s 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 sale, the insider directly owned 3,243 shares in the company, valued at approximately $1,525,247.76. This trade represents a 38.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John F. Malloy bought 435 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was purchased at an average cost of $429.24 per share, with a total value of $186,719.40. Following the completion of the acquisition, the director directly owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. The trade was a 2.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.66% of the stock is owned by insiders.

Hubbell Price Performance

Shares of NYSE HUBB opened at $422.19 on Friday. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $484.26. The company has a 50 day simple moving average of $435.46 and a two-hundred day simple moving average of $420.77. The company has a market capitalization of $22.44 billion, a price-to-earnings ratio of 26.19, 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 quick ratio of 0.76 and a current ratio of 1.36.

Hubbell (NYSE:HUBB) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on HUBB. Wells Fargo & Company raised their target price on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Barclays increased their price target on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Mizuho raised their price objective on shares of Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Stephens reiterated an “overweight” rating and set a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Finally, UBS Group started coverage on Hubbell in a research report on Thursday. They issued a “neutral” rating and a $450.00 target price for the company. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $473.86.

Hubbell 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.