Tidal Investments LLC Purchases 68,958 Shares of Hubbell Inc $HUBB

Tidal Investments LLC grew its position in Hubbell Inc (NYSE:HUBB) by 112.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,013 shares of the industrial products company’s stock after buying an additional 68,958 shares during the quarter. Tidal Investments LLC’s holdings in Hubbell were worth $68,023,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. California State Teachers Retirement System increased its stake in Hubbell by 48,520.9% in the second quarter. California State Teachers Retirement System now owns 39,838,018 shares of the industrial products company’s stock valued at $20,843,251,000 after acquiring an additional 39,756,082 shares during the last quarter. BlackRock Inc. bought a new stake in Hubbell during the second quarter worth $2,455,986,000. Bank of New York Mellon Corp bought a new stake in Hubbell during the second quarter worth $783,142,000. Wellington Management Group LLP boosted its holdings in shares of 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 in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Hubbell during the 2nd quarter worth $610,053,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Activity

In other 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 of the company’s stock, valued at $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.63% of the stock is owned by corporate insiders.

Hubbell Trading Down 2.0%

NYSE HUBB opened at $455.38 on Thursday. The company has a market cap of $24.06 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50. 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 business’s fifty day moving average is $481.68 and its 200 day moving average is $493.81.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.39 by $0.13. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter 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, sell-side analysts expect that Hubbell Inc will post 20.43 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s payout ratio is 33.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group reiterated a “neutral” rating and issued a $515.00 target price 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. Robert W. Baird began coverage on shares of Hubbell in a research note on Thursday, August 20th. They issued an “outperform” rating and a $550.00 price target on the stock. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.00.

Hubbell Company Profile

Hubbell Incorporated (NYSE: HUBB) is a manufacturer of electrical and utility products used to build, connect, protect and maintain electrical systems. The company serves electric utilities, electrical contractors, distributors, telecommunications providers, industrial businesses and commercial customers.

Hubbell operates through two principal business areas: Utility Solutions and Electrical Solutions. Its product portfolio includes components for electric transmission, distribution and substation applications, as well as connectors, insulators, arresters, grounding and bonding equipment, wiring devices, lighting products, enclosures and other electrical system products.