Bank of Nova Scotia Purchases New Stake in Hubbell Inc $HUBB

Bank of Nova Scotia acquired a new stake in Hubbell Inc (NYSE:HUBB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,568 shares of the industrial products company’s stock, valued at approximately $2,913,000.

A number of other hedge funds also recently modified their holdings of the stock. DNB Asset Management AS raised its position in shares of Hubbell by 4.9% in the 4th quarter. DNB Asset Management AS now owns 38,865 shares of the industrial products company’s stock worth $17,260,000 after acquiring an additional 1,832 shares in the last quarter. Swedbank AB lifted its stake in shares of Hubbell by 19.2% in the 1st quarter. Swedbank AB now owns 32,380 shares of the industrial products company’s stock valued at $15,890,000 after purchasing an additional 5,218 shares during the period. Principal Financial Group Inc. boosted its position in shares of Hubbell by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 205,775 shares of the industrial products company’s stock valued at $91,396,000 after purchasing an additional 7,100 shares in the last quarter. Vest Financial LLC bought a new stake in shares of Hubbell during the 4th quarter valued at about $1,589,000. Finally, NewEdge Wealth LLC acquired a new stake in Hubbell during the second quarter worth approximately $745,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of Hubbell stock opened at $473.15 on Thursday. The company has a market cap of $25.00 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 2.27 and a beta of 0.90. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50. The business has a 50 day moving average price of $493.96 and a 200-day moving average price of $497.92. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22.

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

Hubbell Announces Dividend

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

Insider Activity at Hubbell

In other news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction dated Tuesday, August 11th. The shares were 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. This represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on HUBB. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Wall Street Zen downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Wells Fargo & Company boosted their target price on Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. 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, Stephens raised their price objective on Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $553.89.

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.