Parnassus Investments LLC Has $86.58 Million Position in Hubbell Inc $HUBB

Parnassus Investments LLC raised its stake in shares of Hubbell Inc (NYSE:HUBB) by 38.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,948 shares of the industrial products company’s stock after buying an additional 54,263 shares during the quarter. Parnassus Investments LLC’s holdings in Hubbell were worth $86,578,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. BSW Wealth Partners grew its stake in Hubbell by 2.9% during the fourth quarter. BSW Wealth Partners now owns 769 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 22 shares during the period. GAMMA Investing LLC grew its stake in Hubbell by 2.2% during the fourth quarter. GAMMA Investing LLC now owns 1,065 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 23 shares during the period. Benjamin Edwards Inc. grew its stake in Hubbell by 2.0% during the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 24 shares during the period. Ballentine Partners LLC grew its stake in Hubbell by 1.9% during the fourth quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company’s stock worth $572,000 after purchasing an additional 24 shares during the period. Finally, Quest Investment Management LLC grew its stake in Hubbell by 1.3% during the third quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 25 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Up 0.3%

Shares of NYSE:HUBB opened at $468.83 on Friday. The business’s 50 day simple moving average is $501.87 and its two-hundred day simple moving average is $484.99. The firm has a market cap of $24.77 billion, a P/E ratio of 27.69, a PEG ratio of 2.36 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 1.58. Hubbell Inc has a 52-week low of $380.86 and a 52-week high of $565.50.

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 for the quarter, compared to analyst estimates of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. As a group, research analysts forecast that Hubbell Inc will post 19.84 EPS for the current fiscal year.

Hubbell Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on HUBB. Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Wells Fargo & Company raised their target price on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Stephens increased their price target on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Barclays increased their price target on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, Morgan Stanley increased their price target on Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 11th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $546.25.

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.