First Trust Advisors LP Buys 151,467 Shares of Hubbell Inc $HUBB

First Trust Advisors LP increased its position in Hubbell Inc (NYSE:HUBB) by 26.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 714,287 shares of the industrial products company’s stock after buying an additional 151,467 shares during the period. First Trust Advisors LP’s holdings in Hubbell were worth $350,529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. boosted its holdings in Hubbell by 165.0% in the first quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 33 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Hubbell by 147.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. NBT Bank N A NY bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $27,000. Raiffeisen Bank International AG raised its position in shares of Hubbell by 83.3% during the fourth quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 30 shares during the period. Finally, Leonteq Securities AG acquired a new position in shares of Hubbell during the first quarter worth approximately $33,000. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Down 1.1%

Shares of NYSE:HUBB opened at $479.64 on Wednesday. The stock has a market cap of $25.34 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 2.44 and a beta of 0.89. 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 Inc has a 12-month low of $403.82 and a 12-month high of $565.50. The business’s 50 day moving average is $488.17 and its 200 day moving average is $496.25.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, topping 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 return on equity of 27.09% and a net margin of 15.10%.Hubbell’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. On average, sell-side analysts forecast that Hubbell Inc will post 19.86 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HUBB shares. Weiss Ratings cut Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Wells Fargo & Company upped their price objective on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Barclays upped their price objective on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. UBS Group reaffirmed a “neutral” rating and issued a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Finally, Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $554.38.

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.