Oppenheimer Asset Management Inc. Takes $636,000 Position in Hubbell Inc $HUBB

Oppenheimer Asset Management Inc. acquired a new stake in Hubbell Inc (NYSE:HUBB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,215 shares of the industrial products company’s stock, valued at approximately $636,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Hubbell by 140.4% in the 4th quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock valued at $1,116,773,000 after purchasing an additional 1,468,701 shares during the last quarter. Boston Partners increased its holdings in shares of Hubbell by 37.8% during the 4th quarter. Boston Partners now owns 1,015,118 shares of the industrial products company’s stock worth $452,675,000 after buying an additional 278,649 shares during the last quarter. Troy Asset Management Ltd raised its position in shares of Hubbell by 60.7% during the 4th quarter. Troy Asset Management Ltd now owns 551,620 shares of the industrial products company’s stock valued at $244,980,000 after buying an additional 208,327 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Hubbell by 355.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 222,485 shares of the industrial products company’s stock valued at $95,738,000 after buying an additional 173,668 shares during the period. Finally, Merewether Investment Management LP purchased a new stake in shares of Hubbell during the 2nd quarter valued at approximately $68,164,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several analyst reports. Barclays increased their price objective on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Stephens upped their price target on Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company upped their target price on shares of Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $554.38.

Insider Buying and Selling

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the transaction, the vice president directly owned 2,933 shares of the company’s stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.63% of the stock is owned by company insiders.

Hubbell Stock Down 1.3%

Shares of NYSE HUBB opened at $504.73 on Tuesday. The firm has a market cap of $26.66 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 2.51 and a beta of 0.90. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50. The business’s 50 day moving average is $495.84 and its two-hundred day moving average is $498.91.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, topping 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 business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business posted $4.93 earnings per share. The company’s quarterly 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 predict that Hubbell Inc will post 20.41 EPS for the current 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 paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 annualized dividend and a yield of 1.1%. Hubbell’s dividend payout ratio is presently 33.63%.

Hubbell 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.