Neuberger Berman Group LLC Lowers Stock Position in Hubbell Inc $HUBB

Neuberger Berman Group LLC decreased its holdings in Hubbell Inc (NYSE:HUBB) by 87.8% in the 2nd quarter, Holdings Channel reports. The firm owned 8,509 shares of the industrial products company’s stock after selling 61,260 shares during the period. Neuberger Berman Group LLC’s holdings in Hubbell were worth $3,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Central Pacific Bank Trust Division acquired a new position in Hubbell in the second quarter valued at $29,000. Cullen Frost Bankers Inc. grew its holdings in shares of Hubbell by 400.0% during the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after buying an additional 68 shares during the last quarter. Ransom Advisory Ltd acquired a new position in Hubbell in the 1st quarter valued at about $53,000. Johnson Financial Group Inc. raised its stake in Hubbell by 185.4% during the 2nd quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 89 shares during the last quarter. Finally, Groupe la Francaise acquired a new stake in Hubbell during the 1st quarter worth approximately $57,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Activity

In other news, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,525,247.76. The trade was a 38.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 purchased at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the acquisition, the director owned 19,085 shares in the company, valued at approximately $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HUBB. Barclays lifted their target price on Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. UBS Group restated a “neutral” rating and set a $450.00 price objective on shares of Hubbell in a research report on Friday. Wall Street Zen cut shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Mizuho boosted their price target on shares of Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $474.00.

Hubbell Price Performance

Hubbell stock opened at $448.27 on Monday. The company has a market cap of $23.83 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 2.47 and a beta of 1.01. Hubbell Inc has a one year low of $299.42 and a one year high of $484.26. The business has a fifty day moving average of $437.11 and a two-hundred day moving average of $426.72. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36.

Hubbell (NYSE:HUBB) last announced its quarterly 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 business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm posted $4.49 EPS. The business’s 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, analysts predict that Hubbell Inc will post 17.63 earnings per share 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 given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is 35.24%.

Hubbell Company 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.