Nordwand Advisors LLC Increases Stake in Hubbell Inc $HUBB

Nordwand Advisors LLC boosted its stake in shares of Hubbell Inc (NYSE:HUBB) by 9.5% during the 3rd quarter, Holdings Channel reports. The firm owned 13,129 shares of the industrial products company’s stock after acquiring an additional 1,144 shares during the quarter. Nordwand Advisors LLC’s holdings in Hubbell were worth $5,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allstate Corp acquired a new stake in shares of Hubbell during the third quarter worth $768,000. Wealth Enhancement Advisory Services LLC raised its stake in Hubbell by 1.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,111 shares of the industrial products company’s stock worth $4,588,000 after acquiring an additional 123 shares during the last quarter. Florida Trust Wealth Management Co acquired a new stake in Hubbell during the 3rd quarter worth about $204,000. Tred Avon Family Wealth LLC acquired a new stake in Hubbell during the 3rd quarter worth about $713,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Hubbell by 15.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after purchasing an additional 226,856 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the transaction, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John F. Malloy acquired 435 shares of the company’s stock in a transaction on Monday, November 17th. The stock was acquired at an average cost of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the acquisition, the director owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This trade represents a 2.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HUBB shares. UBS Group restated a “neutral” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, December 12th. Evercore ISI started coverage on shares of Hubbell in a report on Monday, December 15th. They issued an “outperform” rating and a $575.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Mizuho upped their price objective on shares of Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Finally, Wells Fargo & Company raised their target price on shares of Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

Hubbell Price Performance

NYSE:HUBB opened at $489.92 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85. The company has a 50 day moving average price of $447.13 and a 200-day moving average price of $438.25. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $497.95. The firm has a market cap of $26.04 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.02.

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

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a dividend of $1.42 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date was Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s payout ratio is 35.24%.

About Hubbell

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.