Hubbell Inc $HUBB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Hubbell Inc (NYSE:HUBB) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,058,372 shares of the industrial products company’s stock after selling 108,310 shares during the quarter. Bank of New York Mellon Corp’s holdings in Hubbell were worth $1,010,126,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Wellington Management Group LLP increased its stake in Hubbell by 140.4% in the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock valued at $1,116,773,000 after purchasing an additional 1,468,701 shares during the last quarter. State Street Corp boosted its stake in 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 buying an additional 40,623 shares during the last quarter. Geode Capital Management LLC grew its holdings in Hubbell by 0.8% in 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 buying an additional 10,898 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Hubbell by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,214,236 shares of the industrial products company’s stock valued at $539,257,000 after buying an additional 60,071 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Hubbell by 0.8% during the 4th quarter. Deutsche Bank AG now owns 1,142,410 shares of the industrial products company’s stock valued at $507,356,000 after acquiring an additional 9,202 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company increased 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 target on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, UBS Group reissued a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $554.38.

Hubbell Trading Down 0.8%

NYSE HUBB opened at $480.05 on Thursday. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 2.44 and a beta of 0.89. 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 one year low of $403.82 and a one year high of $565.50. The company’s 50 day moving average price is $488.68 and its 200 day moving average price is $495.27.

Hubbell (NYSE:HUBB) last released its quarterly earnings data 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. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $3.50 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. On average, sell-side analysts predict that Hubbell Inc will post 19.83 EPS for the current year.

Hubbell Announces Dividend

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

About Hubbell

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.