Voya Investment Management LLC Sells 3,505 Shares of Hubbell Inc $HUBB

Voya Investment Management LLC cut its position in shares of Hubbell Inc (NYSE:HUBB) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,581 shares of the industrial products company’s stock after selling 3,505 shares during the period. Voya Investment Management LLC’s holdings in Hubbell were worth $10,577,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of analyst reports. Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a report on Sunday. Barclays increased their target price on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Evercore ISI assumed coverage on shares of Hubbell in a research report on Monday, December 15th. They issued an “outperform” rating and a $575.00 price target on the stock. UBS Group reaffirmed a “neutral” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, December 12th. Finally, Wells Fargo & Company raised their price objective on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and a consensus price target of $488.43.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred 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 owned 4,785 shares in the company, valued at $2,232,202.50. The trade was a 34.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.76% of the company’s stock.

Hubbell Trading Up 1.0%

Shares of NYSE HUBB opened at $455.66 on Wednesday. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $484.26. The company has a 50-day moving average of $440.69 and a two-hundred day moving average of $429.28. The company has a market cap of $24.22 billion, a PE ratio of 28.27, a P/E/G ratio of 2.48 and a beta of 1.01. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share 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 analyst estimates of $1.54 billion. During the same quarter last year, the business posted $4.49 earnings per share. Hubbell’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, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a $1.42 dividend. The ex-dividend date was Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. Hubbell’s dividend payout ratio is 35.24%.

About Hubbell

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.