Harfst & Associates Inc. Purchases 2,310 Shares of Hubbell Inc $HUBB

Harfst & Associates Inc. raised its position in shares of Hubbell Inc (NYSE:HUBB) by 116.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,286 shares of the industrial products company’s stock after purchasing an additional 2,310 shares during the quarter. Harfst & Associates Inc.’s holdings in Hubbell were worth $1,751,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in shares of Hubbell during the 2nd quarter valued at $29,000. Cullen Frost Bankers Inc. lifted its position in shares of Hubbell by 400.0% in the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 68 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Hubbell in the first quarter worth about $53,000. Groupe la Francaise bought a new position in shares of Hubbell in the first quarter worth about $57,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Hubbell by 271.9% during the first quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 155 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HUBB. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Wells Fargo & Company boosted their price target on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. raised their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Mizuho raised their price target on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $474.00.

Hubbell Trading Down 0.3%

HUBB opened at $428.58 on Thursday. The stock’s 50 day moving average price is $434.98 and its 200-day moving average price is $422.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.36. Hubbell Inc has a one year low of $299.42 and a one year high of $484.26. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 2.60 and a beta of 1.00.

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

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is currently 35.24%.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the completion of the sale, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John F. Malloy acquired 435 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the purchase, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This represents a 2.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.66% of the company’s stock.

Hubbell Company 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.