Hudson Bay Capital Management LP Has $5.76 Million Stake in Hubbell Inc $HUBB

Hudson Bay Capital Management LP lowered its position in shares of Hubbell Inc (NYSE:HUBB) by 41.2% during the second quarter, HoldingsChannel reports. The fund owned 14,113 shares of the industrial products company’s stock after selling 9,887 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Hubbell were worth $5,764,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new stake in shares of Hubbell during the second quarter valued at about $29,000. Cullen Frost Bankers Inc. increased its stake in shares of Hubbell by 400.0% in the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after buying an additional 68 shares during the period. Johnson Financial Group Inc. raised its holdings in Hubbell by 185.4% in the 2nd quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after buying an additional 89 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Hubbell during the 2nd quarter worth approximately $57,000. Finally, MUFG Securities EMEA plc bought a new stake in Hubbell during the 2nd quarter worth approximately $65,000. 88.16% of the stock is currently owned by institutional investors.

Insider Activity at Hubbell

In other news, Director John F. Malloy purchased 435 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $429.24 per share, with a total value of $186,719.40. Following the purchase, the director owned 19,085 shares in the company, valued at $8,192,045.40. This represents a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total value of $945,813.52. Following the completion of the transaction, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

NYSE:HUBB opened at $445.24 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $484.26. The company has a fifty day moving average of $437.75 and a 200-day moving average of $427.06. The firm has a market capitalization of $23.66 billion, a P/E ratio of 27.62, a P/E/G ratio of 2.47 and a beta of 1.01.

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

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $1.42 dividend. The ex-dividend date was Friday, November 28th. This represents a $5.68 annualized dividend and a dividend yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is 35.24%.

Analyst Ratings Changes

Several equities analysts have issued reports on HUBB shares. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Evercore ISI initiated coverage on Hubbell in a report on Monday. They issued an “outperform” rating and a $575.00 price objective for the company. Barclays lifted their target price on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Wells Fargo & Company upped their price target on Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $488.43.

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.