Mirova US LLC Has $208.77 Million Stock Holdings in Hubbell Inc $HUBB

Mirova US LLC boosted its position in shares of Hubbell Inc (NYSE:HUBB) by 42.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 485,165 shares of the industrial products company’s stock after purchasing an additional 143,876 shares during the quarter. Hubbell accounts for about 2.1% of Mirova US LLC’s investment portfolio, making the stock its 21st biggest holding. Mirova US LLC owned about 0.91% of Hubbell worth $208,771,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. boosted its position in shares of Hubbell by 181.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after purchasing an additional 628,886 shares in the last quarter. Boston Partners acquired a new stake in Hubbell during the 2nd quarter worth $230,691,000. Troy Asset Management Ltd acquired a new stake in Hubbell during the 2nd quarter worth $132,540,000. Bain Capital Public Equity Management II LLC bought a new position in Hubbell during the second quarter worth about $132,286,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in Hubbell by 848.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 191,748 shares of the industrial products company’s stock valued at $78,312,000 after acquiring an additional 171,535 shares during the period. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other news, Director John F. Malloy bought 435 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average cost of $429.24 per share, with a total value of $186,719.40. Following the completion of the purchase, the director owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This represents a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total value of $945,813.52. Following the transaction, the insider directly owned 3,243 shares in the company, valued at approximately $1,525,247.76. This trade represents a 38.28% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.76% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB opened at $451.54 on Tuesday. The stock has a market capitalization of $24.00 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.50 and a beta of 1.01. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $484.26. The firm has a fifty day simple moving average of $442.62 and a 200 day simple moving average of $431.09. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS 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 for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the firm posted $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. Research analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend was Friday, November 28th. Hubbell’s payout ratio is currently 35.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HUBB. Stephens reaffirmed an “overweight” rating and set a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Barclays raised their target price on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Wells Fargo & Company upped their price target on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. UBS Group restated a “neutral” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $488.43.

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.