Reliant Investment Management LLC Buys New Shares in Hubbell Inc $HUBB

Reliant Investment Management LLC bought a new position in Hubbell Inc (NYSE:HUBB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,137 shares of the industrial products company’s stock, valued at approximately $5,959,000. Hubbell accounts for approximately 2.0% of Reliant Investment Management LLC’s portfolio, making the stock its 23rd largest position.

Several other institutional investors also recently bought and sold shares of HUBB. Corient Private Wealth LP purchased a new stake in Hubbell in the 2nd quarter valued at about $4,254,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Hubbell during the 2nd quarter worth about $7,648,000. Swedbank AB lifted its holdings in shares of Hubbell by 19.2% during the 1st quarter. Swedbank AB now owns 32,380 shares of the industrial products company’s stock worth $15,890,000 after acquiring an additional 5,218 shares during the period. NewEdge Wealth LLC purchased a new position in shares of Hubbell during the 2nd quarter worth about $745,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Hubbell in the second quarter worth approximately $783,142,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

NYSE HUBB opened at $472.04 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93. Hubbell Inc has a 1-year low of $403.82 and a 1-year high of $565.50. The firm has a market capitalization of $24.94 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.38 and a beta of 0.85. The business’s 50-day simple moving average is $470.89 and its 200-day simple moving average is $488.49.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company earned $4.93 EPS. The company’s revenue was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Equities analysts predict that Hubbell Inc will post 20.45 EPS for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, August 31st. Hubbell’s payout ratio is currently 33.63%.

Analysts Set New Price Targets

Several equities analysts recently commented on HUBB shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Robert W. Baird started coverage on shares of Hubbell in a report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Hubbell in a research note on Thursday, September 24th. They set an “equal weight” rating and a $531.00 price objective for the company. Finally, Evercore reissued an “outperform” rating and set a $630.00 price objective on shares of Hubbell in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $556.78.

Insider Transactions at Hubbell

In other news, VP Jonathan Del Nero sold 547 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the sale, the vice president owned 2,933 shares of the company’s stock, valued at $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

About Hubbell

Hubbell Incorporated (NYSE:HUBB) designs and manufactures electrical and utility products used to support the generation, transmission, distribution and control of electricity. The company serves electric utilities, electrical contractors, industrial businesses, commercial facilities and communications infrastructure providers.

Its Utility Solutions products include transmission and distribution equipment, connectors, insulators, arresters, grounding and bonding products, substation equipment, and enclosures for underground electrical systems.