UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in Hubbell Inc $HUBB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Hubbell Inc (NYSE:HUBB) by 13.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 396,222 shares of the industrial products company’s stock after purchasing an additional 48,348 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.75% of Hubbell worth $207,303,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Hubbell in the 2nd quarter valued at about $2,455,986,000. Bank of New York Mellon Corp acquired a new stake in shares of Hubbell during the 2nd quarter worth about $783,142,000. Wellington Management Group LLP lifted its stake in Hubbell by 140.4% during the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock worth $1,116,773,000 after purchasing an additional 1,468,701 shares during the last quarter. Deutsche Bank AG purchased a new stake in Hubbell during the second quarter worth approximately $610,053,000. Finally, Bank of America Corp DE acquired a new position in Hubbell in the second quarter valued at approximately $204,918,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

HUBB stock opened at $452.99 on Tuesday. The company has a market capitalization of $23.93 billion, a P/E ratio of 26.82, a PEG ratio of 2.25 and a beta of 0.90. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50. The business has a 50 day simple moving average of $489.86 and a 200-day simple moving average of $497.02. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company posted $4.93 EPS. 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. As a group, equities analysts anticipate that Hubbell Inc will post 20.41 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $1.42 dividend. The ex-dividend date is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. Hubbell’s payout ratio is currently 33.63%.

Insider Buying and Selling

In other news, VP Nero Jonathan M. Del sold 547 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the sale, the vice president directly owned 2,933 shares of the company’s stock, valued at approximately $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the topic of several recent analyst reports. Stephens increased their price target on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. UBS Group restated a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research report on Tuesday, June 16th. Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Finally, Robert W. Baird assumed coverage on shares of Hubbell in a research report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.89.

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.