1,835 Shares in Hubbell Inc $HUBB Purchased by L2 Asset Management LLC

L2 Asset Management LLC purchased a new stake in shares of Hubbell Inc (NYSE:HUBB) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,835 shares of the industrial products company’s stock, valued at approximately $960,000.

Several other hedge funds have also recently made changes to their positions in HUBB. BlackRock Inc. purchased a new position in Hubbell during the 2nd quarter valued at $2,455,986,000. Wellington Management Group LLP lifted its position 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 worth $1,116,773,000 after purchasing an additional 1,468,701 shares during the period. State Street Corp lifted its position in shares of Hubbell by 1.8% in the 4th quarter. State Street Corp now owns 2,302,567 shares of the industrial products company’s stock worth $1,022,593,000 after purchasing an additional 40,623 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Hubbell during the 2nd quarter valued at about $783,142,000. Finally, Geode Capital Management LLC boosted its stake in shares of Hubbell by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company’s stock valued at $608,704,000 after purchasing an additional 10,898 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of HUBB opened at $466.72 on Tuesday. Hubbell Inc has a fifty-two week low of $403.82 and a fifty-two week high of $565.50. The firm’s 50-day simple moving average is $495.45 and its two-hundred day simple moving average is $498.18. The stock has a market cap of $24.66 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 1.61.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business earned $4.93 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Analysts anticipate that Hubbell Inc will post 20.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HUBB. Weiss Ratings downgraded shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Robert W. Baird started coverage on Hubbell in a research report on Thursday. They set an “outperform” rating and a $550.00 price objective on the stock. Barclays upped their target price on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Stephens lifted their price target on Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company upped their price target on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.89.

Insider Buying and Selling

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the business’s stock in a transaction 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 sale, the vice president directly owned 2,933 shares of the company’s stock, valued at approximately $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.

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.