Plato Investment Management Ltd Acquires Shares of 1,338 Hubbell Inc $HUBB

Plato Investment Management Ltd bought a new position in Hubbell Inc (NYSE:HUBB) in the second quarter, Holdings Channel reports. The firm bought 1,338 shares of the industrial products company’s stock, valued at approximately $696,000.

Several other hedge funds have also recently made changes to their positions in the company. Ballentine Partners LLC lifted its position in shares of Hubbell by 1.9% during the 4th quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company’s stock valued at $572,000 after buying an additional 24 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Hubbell by 2.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 24 shares during the last quarter. Quest Investment Management LLC increased its holdings in Hubbell by 1.3% in the 3rd quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock worth $816,000 after acquiring an additional 25 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in Hubbell by 1.1% in the 4th quarter. Gulf International Bank UK Ltd now owns 2,678 shares of the industrial products company’s stock valued at $1,189,000 after acquiring an additional 28 shares during the period. Finally, Meeder Advisory Services Inc. raised its stake in Hubbell by 1.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company’s stock valued at $833,000 after acquiring an additional 28 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Down 3.9%

Shares of NYSE HUBB opened at $484.45 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. The company has a market cap of $25.59 billion, a P/E ratio of 28.68, a P/E/G ratio of 2.51 and a beta of 0.90. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50. The business has a 50-day simple moving average of $495.82 and a two-hundred day simple moving average of $498.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.39 by $0.13. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the business posted $4.93 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Research analysts anticipate that Hubbell Inc will post 20.41 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued 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 of this dividend is Monday, August 31st. Hubbell’s dividend payout ratio is 33.63%.

Insider Transactions at Hubbell

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the sale, the vice president directly owned 2,933 shares in the company, valued at $1,520,936.48. This represents a 15.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on HUBB. Wells Fargo & Company increased their target price on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Sanford C. Bernstein reissued an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Barclays upped their price target on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings downgraded shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Finally, UBS Group reiterated a “neutral” rating and issued a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $554.38.

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.