PNC Financial Services Group Inc. Has $137.64 Million Position in Hubbell Inc $HUBB

PNC Financial Services Group Inc. lifted its holdings in shares of Hubbell Inc (NYSE:HUBB) by 15.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 319,864 shares of the industrial products company’s stock after acquiring an additional 42,295 shares during the period. PNC Financial Services Group Inc.’s holdings in Hubbell were worth $137,641,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Hubbell by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock worth $2,714,669,000 after purchasing an additional 21,508 shares during the last quarter. State Street Corp grew its position in Hubbell by 1.2% during the 2nd quarter. State Street Corp now owns 2,183,405 shares of the industrial products company’s stock worth $891,724,000 after acquiring an additional 26,708 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Hubbell by 15.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock worth $712,484,000 after purchasing an additional 226,856 shares during the last quarter. Invesco Ltd. increased its stake in shares of Hubbell by 0.6% in the second quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock valued at $625,698,000 after buying an additional 9,697 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Hubbell by 1.8% in the second quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock valued at $550,571,000 after buying an additional 24,110 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hubbell

In related news, VP Nero Jonathan M. Del sold 2,245 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $500.60, for a total transaction of $1,123,847.00. Following the completion of the transaction, the vice president directly owned 2,769 shares of the company’s stock, valued at approximately $1,386,161.40. This represents a 44.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Katherine Anne Lane sold 4,610 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $505.60, for a total value of $2,330,816.00. Following the completion of the transaction, the vice president owned 14,913 shares of the company’s stock, valued at approximately $7,540,012.80. This represents a 23.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 32,088 shares of company stock worth $16,045,173. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays raised their price objective on shares of Hubbell from $465.00 to $481.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research report on Thursday, January 22nd. Morgan Stanley set a $515.00 target price on Hubbell in a research report on Wednesday, January 7th. Wells Fargo & Company raised their price target on Hubbell from $515.00 to $550.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Finally, Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a report on Monday. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $529.75.

Hubbell Trading Up 1.5%

HUBB opened at $523.64 on Monday. The stock has a market capitalization of $27.83 billion, a P/E ratio of 31.41, a P/E/G ratio of 2.65 and a beta of 1.02. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $533.80. The firm’s fifty day simple moving average is $471.98 and its 200 day simple moving average is $447.57.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.03. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. Hubbell had a return on equity of 27.45% and a net margin of 15.29%.The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $4.10 EPS. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. As a group, research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $5.68 dividend on an annualized basis and a yield of 1.1%. Hubbell’s dividend payout ratio (DPR) is 34.07%.

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.