Aviva PLC Decreases Stake in Hubbell Inc $HUBB

Aviva PLC lessened its holdings in shares of Hubbell Inc (NYSE:HUBB) by 14.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 196,024 shares of the industrial products company’s stock after selling 33,763 shares during the quarter. Aviva PLC owned 0.37% of Hubbell worth $80,058,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Penserra Capital Management LLC increased its position in shares of Hubbell by 12.4% in the second quarter. Penserra Capital Management LLC now owns 290 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 32 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in Hubbell during the 2nd quarter worth $689,000. Suncoast Equity Management increased its holdings in Hubbell by 4.0% in the 2nd quarter. Suncoast Equity Management now owns 3,229 shares of the industrial products company’s stock valued at $1,319,000 after purchasing an additional 124 shares in the last quarter. Sienna Gestion increased its holdings in Hubbell by 11.0% in the 2nd quarter. Sienna Gestion now owns 16,406 shares of the industrial products company’s stock valued at $6,117,000 after purchasing an additional 1,631 shares in the last quarter. Finally, Andra AP fonden purchased a new position in Hubbell in the second quarter valued at about $8,046,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 2,470 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the completion of the sale, the insider directly owned 4,785 shares of the company’s stock, valued at $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alyssa R. Flynn sold 2,011 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the sale, the insider owned 3,243 shares in the company, valued at $1,525,247.76. The trade was a 38.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB opened at $462.40 on Friday. The business’s 50 day moving average is $436.38 and its two-hundred day moving average is $415.37. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $484.26. The firm has a market cap of $24.57 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 2.60 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $1.42 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date is Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is currently 35.24%.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Barclays boosted their target price on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Finally, Mizuho raised their price target on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $477.83.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.