HM Payson & Co. Sells 37,095 Shares of Hubbell Inc $HUBB

HM Payson & Co. decreased its position in shares of Hubbell Inc (NYSE:HUBB) by 19.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,006 shares of the industrial products company’s stock after selling 37,095 shares during the period. HM Payson & Co. owned 0.29% of Hubbell worth $65,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. boosted its position in shares of Hubbell by 2.0% in the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 24 shares during the period. Blue Trust Inc. increased its position in Hubbell by 5.5% during the third quarter. Blue Trust Inc. now owns 480 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 25 shares during the period. DB Fitzpatrick & Co Inc raised its stake in Hubbell by 0.6% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company’s stock valued at $1,776,000 after purchasing an additional 26 shares during the last quarter. Chicago Capital LLC boosted its holdings in Hubbell by 0.5% in the 2nd quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company’s stock valued at $2,504,000 after purchasing an additional 29 shares during the period. Finally, Klingman & Associates LLC boosted its holdings in Hubbell by 1.2% in the 2nd quarter. Klingman & Associates LLC now owns 2,496 shares of the industrial products company’s stock valued at $1,019,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling

In other news, insider Alyssa R. Flynn sold 2,011 shares of the firm’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 transaction of $945,813.52. Following the completion of the sale, the insider owned 3,243 shares of the company’s stock, valued at approximately $1,525,247.76. This trade represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the transaction, the insider owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This trade represents a 34.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.76% of the stock is currently owned by corporate insiders.

Hubbell Trading Down 0.4%

Shares of HUBB opened at $454.56 on Monday. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28. The stock has a market cap of $24.16 billion, a PE ratio of 28.20, a PEG ratio of 2.50 and a beta of 1.01. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $484.26. The stock has a 50 day simple moving average of $442.23 and a 200-day simple moving average of $430.67.

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

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is currently 35.24%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HUBB shares. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Evercore ISI began coverage on Hubbell in a research note on Monday, December 15th. They set an “outperform” rating and a $575.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. UBS Group reissued a “neutral” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, December 12th. Finally, Barclays upped their target price on Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $488.43.

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.