Boothbay Fund Management LLC Sells 2,234 Shares of Hubbell Inc $HUBB

Boothbay Fund Management LLC cut its stake in shares of Hubbell Inc (NYSE:HUBB) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,793 shares of the industrial products company’s stock after selling 2,234 shares during the period. Boothbay Fund Management LLC owned approximately 0.05% of Hubbell worth $11,960,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners acquired a new position in shares of Hubbell during the 2nd quarter worth about $230,691,000. Troy Asset Management Ltd bought a new stake in shares of Hubbell in the 2nd quarter valued at about $132,540,000. Bain Capital Public Equity Management II LLC acquired a new stake in shares of Hubbell in the 2nd quarter valued at approximately $132,286,000. Massachusetts Financial Services Co. MA raised its position in shares of Hubbell by 15.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after acquiring an additional 226,856 shares during the period. Finally, Merewether Investment Management LP bought a new position in Hubbell during the 2nd quarter worth approximately $68,164,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 0.2%

Hubbell stock opened at $467.52 on Friday. The company has a 50 day moving average of $493.98 and a 200-day moving average of $457.51. The company has a quick ratio of 1.00, a current ratio of 1.72 and a debt-to-equity ratio of 0.53. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $533.80. The stock has a market capitalization of $24.85 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00.

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th 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 is Friday, February 27th. Hubbell’s payout ratio is 34.07%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stephens reaffirmed an “overweight” rating and issued a $550.00 target price on shares of Hubbell in a research note on Thursday, February 5th. Evercore lifted their price target on shares of Hubbell from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Barclays lifted their target price on Hubbell from $465.00 to $481.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $536.00.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 2,601 shares of Hubbell stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $523.73, for a total value of $1,362,221.73. Following the sale, the insider owned 2,592 shares of the company’s stock, valued at approximately $1,357,508.16. This trade represents a 50.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Katherine Anne Lane sold 4,610 shares of the business’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 sale, the vice president owned 14,913 shares in the company, valued at $7,540,012.80. The trade was a 23.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 34,689 shares of company stock valued at $17,407,395 over the last three months. 0.66% of the stock is currently owned by corporate insiders.

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.