Legal & General Group Plc Purchases 1,971 Shares of Hubbell Inc $HUBB

Legal & General Group Plc grew its position in shares of Hubbell Inc (NYSE:HUBB) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 311,583 shares of the industrial products company’s stock after acquiring an additional 1,971 shares during the quarter. Legal & General Group Plc owned 0.59% of Hubbell worth $127,254,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. DB Fitzpatrick & Co Inc lifted its position in shares of Hubbell by 0.6% in the second quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company’s stock worth $1,776,000 after purchasing an additional 26 shares in the last quarter. Chicago Capital LLC lifted its position in Hubbell by 0.5% during the 2nd quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company’s stock worth $2,504,000 after buying an additional 29 shares in the last quarter. Klingman & Associates LLC lifted its position in Hubbell by 1.2% during the 2nd quarter. Klingman & Associates LLC now owns 2,496 shares of the industrial products company’s stock worth $1,019,000 after buying an additional 29 shares in the last quarter. Bordeaux Wealth Advisors LLC boosted its stake in shares of Hubbell by 5.0% during the 2nd quarter. Bordeaux Wealth Advisors LLC now owns 635 shares of the industrial products company’s stock worth $259,000 after buying an additional 30 shares during the last quarter. Finally, Montag A & Associates Inc. grew its holdings in shares of Hubbell by 1.9% in the 2nd quarter. Montag A & Associates Inc. now owns 1,630 shares of the industrial products company’s stock valued at $666,000 after acquiring an additional 30 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HUBB has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Mizuho boosted 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. Wells Fargo & Company upped their price objective on Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Stephens reissued an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and a consensus price target of $473.86.

Insider Activity at Hubbell

In other news, Director John F. Malloy bought 435 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $429.24 per share, with a total value of $186,719.40. Following the completion of the transaction, the director owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction that occurred on 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. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by company insiders.

Hubbell Stock Up 0.5%

HUBB opened at $424.03 on Tuesday. The stock’s fifty day simple moving average is $435.17 and its 200 day simple moving average is $421.74. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $484.26. The stock has a market cap of $22.53 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. The company has a current ratio of 1.36, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last released its quarterly earnings data 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. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the business posted $4.49 earnings per share. The company’s revenue for the quarter 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, research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

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

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.