ProShare Advisors LLC Boosts Position in Hubbell Inc $HUBB

ProShare Advisors LLC raised its holdings in shares of Hubbell Inc (NYSE:HUBB) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,463 shares of the industrial products company’s stock after acquiring an additional 450 shares during the period. ProShare Advisors LLC’s holdings in Hubbell were worth $5,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HUBB. Nuveen LLC acquired a new position in Hubbell during the first quarter valued at $213,283,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Hubbell by 181.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after buying an additional 628,886 shares during the last quarter. Mirova US LLC purchased a new position in shares of Hubbell during the 2nd quarter valued at about $139,386,000. Deutsche Bank AG lifted its holdings in shares of Hubbell by 35.1% in the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock valued at $365,353,000 after buying an additional 287,047 shares during the period. Finally, Parnassus Investments LLC purchased a new stake in shares of Hubbell in the first quarter worth about $57,432,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Stephens reiterated an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Wells Fargo & Company increased their price target on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Mizuho lifted their price objective on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Barclays increased their target price on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and an average price target of $477.83.

Hubbell Stock Performance

HUBB opened at $431.97 on Friday. The firm’s fifty day simple moving average is $437.81 and its two-hundred day simple moving average is $418.10. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $484.26. The company has a market cap of $22.96 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.60 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned $4.49 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Equities analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $1.42 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 28th. Hubbell’s dividend payout ratio is presently 35.24%.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the sale, the insider owned 4,785 shares of the company’s stock, valued at $2,232,202.50. The trade was a 34.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the sale, the insider directly owned 3,243 shares of the company’s stock, valued at $1,525,247.76. The trade was a 38.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.76% of the company’s stock.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.