Saudi Central Bank Boosts Stake in Hubbell Inc $HUBB

Saudi Central Bank raised its stake in shares of Hubbell Inc (NYSE:HUBB) by 89.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,712 shares of the industrial products company’s stock after buying an additional 1,750 shares during the quarter. Saudi Central Bank’s holdings in Hubbell were worth $1,942,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Corient Private Wealth LP acquired a new stake in shares of Hubbell during the 2nd quarter worth about $4,254,000. DNB Asset Management AS raised its position in shares of Hubbell by 4.9% in the fourth quarter. DNB Asset Management AS now owns 38,865 shares of the industrial products company’s stock valued at $17,260,000 after buying an additional 1,832 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Hubbell during the second quarter valued at approximately $7,648,000. Swedbank AB lifted its stake in shares of Hubbell by 19.2% during the first quarter. Swedbank AB now owns 32,380 shares of the industrial products company’s stock valued at $15,890,000 after buying an additional 5,218 shares during the period. Finally, Troy Asset Management Ltd grew its stake in Hubbell by 60.7% in the 4th quarter. Troy Asset Management Ltd now owns 551,620 shares of the industrial products company’s stock worth $244,980,000 after acquiring an additional 208,327 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent analyst reports. Robert W. Baird started coverage on Hubbell in a research note on Thursday, August 20th. They set an “outperform” rating and a $550.00 price target on the stock. Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Morgan Stanley increased their price objective on shares of Hubbell from $565.00 to $575.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 2nd. Finally, UBS Group reissued a “neutral” rating and issued a $515.00 target price on shares of Hubbell in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $555.00.

Hubbell Stock Performance

NYSE:HUBB opened at $460.95 on Tuesday. The firm’s fifty day simple moving average is $483.54 and its 200 day simple moving average is $494.71. 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 Inc has a twelve month low of $403.82 and a twelve month high of $565.50. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 2.25 and a beta of 0.89.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.39 by $0.13. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.93 EPS. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, equities research analysts expect that Hubbell Inc will post 20.43 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given 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 1.2%. Hubbell’s payout ratio is 33.63%.

Insider Buying and Selling

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of the company’s stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

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.