Northwestern Mutual Wealth Management Co. Purchases 10,416 Shares of Hubbell Inc $HUBB

Northwestern Mutual Wealth Management Co. lifted its position in shares of Hubbell Inc (NYSE:HUBB) by 10.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,386 shares of the industrial products company’s stock after buying an additional 10,416 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.21% of Hubbell worth $46,308,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Hubbell by 0.3% during the second quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock valued at $2,714,669,000 after acquiring an additional 21,508 shares during the period. Invesco Ltd. grew its position in shares of Hubbell by 2.1% during the first quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company’s stock worth $503,757,000 after purchasing an additional 31,859 shares in the last quarter. Geode Capital Management LLC raised its stake in Hubbell by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock valued at $550,571,000 after purchasing an additional 24,110 shares during the period. Deutsche Bank AG lifted 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 purchasing an additional 287,047 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its stake in Hubbell by 9.5% in the 2nd quarter. Impax Asset Management Group plc now owns 1,006,783 shares of the industrial products company’s stock worth $409,363,000 after purchasing an additional 87,627 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity

In related news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the sale, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. This represents a 38.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John F. Malloy purchased 435 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was 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. The trade was a 2.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Hubbell stock opened at $431.43 on Friday. The company’s 50-day moving average price is $434.54 and its 200-day moving average price is $422.96. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The company has a market cap of $22.93 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $484.26.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping the consensus estimate of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the business posted $4.49 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities research analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $1.42 dividend. This is a positive change 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 dividend yield of 1.3%. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HUBB shares. Stephens reiterated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Mizuho lifted their target price on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus price target of $474.00.

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.