Hubbell Inc $HUBB Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its stake in shares of Hubbell Inc (NYSE:HUBB) by 80.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,368 shares of the industrial products company’s stock after buying an additional 15,343 shares during the quarter. Hubbell makes up approximately 0.8% of Meeder Asset Management Inc.’s portfolio, making the stock its 28th biggest position. Meeder Asset Management Inc.’s holdings in Hubbell were worth $14,789,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in Hubbell in the second quarter worth approximately $29,000. Cullen Frost Bankers Inc. raised its holdings in shares of Hubbell by 400.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 68 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Hubbell in the 3rd quarter valued at $37,000. Johnson Financial Group Inc. lifted its position in shares of Hubbell by 185.4% during the 2nd quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 89 shares during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Hubbell during the second quarter worth $57,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John F. Malloy acquired 435 shares of Hubbell stock in a transaction on Monday, November 17th. The stock was purchased at an average cost of $429.24 per share, with a total value of $186,719.40. Following the purchase, the director directly owned 19,085 shares in the company, valued at approximately $8,192,045.40. The trade was a 2.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alyssa R. Flynn sold 2,011 shares of Hubbell 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 completion of the transaction, the insider owned 3,243 shares in the company, valued at $1,525,247.76. This trade represents a 38.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Up 2.3%

HUBB opened at $471.30 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26. The business’s 50 day moving average is $444.88 and its two-hundred day moving average is $435.22. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02.

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

Hubbell Increases Dividend

The firm 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. 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. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is currently 35.24%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group restated a “neutral” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, December 12th. Barclays upped their price target on Hubbell from $456.00 to $465.00 and gave the company an “equal weight” rating in a report on Wednesday. Evercore ISI started coverage on shares of Hubbell in a report on Monday, December 15th. They set an “outperform” rating and a $575.00 price objective on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $497.25.

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.