Rakuten Investment Management Inc. Buys Shares of 117,436 Hubbell Inc $HUBB

Rakuten Investment Management Inc. purchased a new position in shares of Hubbell Inc (NYSE:HUBB) in the third quarter, Holdings Channel reports. The fund purchased 117,436 shares of the industrial products company’s stock, valued at approximately $47,773,000.

Other large investors also recently modified their holdings of the company. Unique Wealth LLC raised its stake in shares of Hubbell by 2.6% during the third quarter. Unique Wealth LLC now owns 897 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 23 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Hubbell by 2.0% in the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 24 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Hubbell by 5.5% during the third quarter. Blue Trust Inc. now owns 480 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 25 shares during the period. DB Fitzpatrick & Co Inc raised its holdings in Hubbell by 0.6% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company’s stock worth $1,776,000 after purchasing an additional 26 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Hubbell by 5.7% in the third quarter. Versant Capital Management Inc now owns 485 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 26 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 2,011 shares of the company’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 owned 3,243 shares in the company, valued at $1,525,247.76. This represents a 38.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was 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 $2,232,202.50. This trade represents a 34.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.76% of the company’s stock.

Hubbell Price Performance

HUBB stock opened at $473.11 on Wednesday. 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 Inc has a one year low of $299.42 and a one year high of $497.95. The firm has a market capitalization of $25.14 billion, a PE ratio of 29.35, a P/E/G ratio of 2.48 and a beta of 1.02. The firm has a 50-day moving average of $447.59 and a two-hundred day moving average of $438.66.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping 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 firm 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 EPS. The company’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, analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $515.00 price target on Hubbell in a research report on Wednesday, January 7th. Mizuho lifted their target price on Hubbell from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Evercore ISI started coverage on shares of Hubbell in a report on Monday, December 15th. They issued an “outperform” rating and a $575.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Finally, UBS Group reissued a “neutral” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, December 12th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Hubbell Company Profile

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.