Troy Asset Management Ltd Takes $132.54 Million Position in Hubbell Inc $HUBB

Troy Asset Management Ltd acquired a new stake in shares of Hubbell Inc (NYSE:HUBB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 324,526 shares of the industrial products company’s stock, valued at approximately $132,540,000. Hubbell comprises about 3.6% of Troy Asset Management Ltd’s holdings, making the stock its 9th largest holding. Troy Asset Management Ltd owned 0.61% of Hubbell at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HUBB. McKinley Carter Wealth Services Inc. increased its stake in shares of Hubbell by 16.7% during the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock valued at $8,098,000 after acquiring an additional 2,843 shares during the period. Belpointe Asset Management LLC bought a new position in Hubbell during the 2nd quarter valued at $320,000. Venturi Wealth Management LLC acquired a new position in shares of Hubbell during the 2nd quarter valued at $490,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Hubbell during the 1st quarter valued at $1,423,000. Finally, Beacon Financial Group bought a new stake in shares of Hubbell in the 2nd quarter worth $262,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 3.1%

Hubbell stock opened at $448.27 on Monday. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36. The firm has a market capitalization of $23.83 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 2.47 and a beta of 1.01. The company has a 50 day moving average price of $437.11 and a 200 day moving average price of $426.72.

Hubbell (NYSE:HUBB) last issued its 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. The business had revenue of $1.50 billion during 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%.Hubbell’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Research analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed 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 represents a $5.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 28th. This is a boost from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the sale, the insider directly owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the business’s 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 directly owned 3,243 shares of the company’s stock, valued at $1,525,247.76. This represents a 38.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on HUBB shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Mizuho lifted their price objective 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. Wells Fargo & Company boosted their target price on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Barclays raised their target price on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen cut Hubbell from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average price target of $474.00.

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.