Fifth Third Bancorp Grows Position in Hubbell Inc $HUBB

Fifth Third Bancorp raised its stake in shares of Hubbell Inc (NYSE:HUBB) by 104.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 20,080 shares of the industrial products company’s stock after purchasing an additional 10,240 shares during the quarter. Fifth Third Bancorp’s holdings in Hubbell were worth $9,854,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Candriam S.C.A. boosted its holdings in shares of Hubbell by 4.7% in the 1st quarter. Candriam S.C.A. now owns 9,022 shares of the industrial products company’s stock valued at $4,427,000 after purchasing an additional 402 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Hubbell by 0.3% in the first quarter. Sequoia Financial Advisors LLC now owns 31,375 shares of the industrial products company’s stock valued at $15,397,000 after acquiring an additional 100 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in Hubbell during the first quarter valued at about $1,782,000. Granite Investment Partners LLC grew its position in Hubbell by 0.9% during the first quarter. Granite Investment Partners LLC now owns 48,394 shares of the industrial products company’s stock valued at $23,749,000 after acquiring an additional 451 shares during the period. Finally, Resona Asset Management Co. Ltd. raised its holdings in shares of Hubbell by 0.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 17,189 shares of the industrial products company’s stock worth $8,372,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on HUBB. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Wells Fargo & Company increased their target price on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. UBS Group restated a “neutral” rating and issued a $515.00 price target on shares of Hubbell in a report on Tuesday, June 16th. Stephens boosted their price objective on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Barclays increased their price objective on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $554.38.

Hubbell Trading Down 0.8%

HUBB opened at $480.05 on Thursday. The firm has a market capitalization of $25.37 billion, a P/E ratio of 28.35, a P/E/G ratio of 2.44 and a beta of 0.89. The firm’s 50 day moving average is $488.68 and its 200-day moving average is $495.27. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54.

Hubbell (NYSE:HUBB) last announced its earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.06. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.50 billion. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Analysts expect that Hubbell Inc will post 19.83 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 29th. Hubbell’s dividend payout ratio is presently 33.55%.

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.