Hubbell Inc $HUBB Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC decreased its holdings in shares of Hubbell Inc (NYSE:HUBB) by 87.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,509 shares of the industrial products company’s stock after selling 61,260 shares during the quarter. Neuberger Berman Group LLC’s holdings in Hubbell were worth $3,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new position in Hubbell during the 2nd quarter valued at about $29,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Hubbell by 400.0% during the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 68 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Hubbell during the first quarter worth approximately $53,000. Johnson Financial Group Inc. grew its position in Hubbell by 185.4% during the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 89 shares in the last quarter. Finally, Groupe la Francaise purchased a new position in Hubbell during the first quarter valued at approximately $57,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction that occurred on 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 owned 4,785 shares in the company, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $470.32, for a total value of $945,813.52. Following the sale, the insider directly 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HUBB. Mizuho boosted 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. Stephens reaffirmed an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. UBS Group started coverage on shares of Hubbell in a report on Thursday, November 20th. They set a “neutral” rating and a $450.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $474.00.

Hubbell Stock Up 0.7%

Hubbell stock opened at $431.43 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.76. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $484.26. The firm has a fifty day moving average price of $434.54 and a two-hundred day moving average price of $422.71. The firm has a market cap of $22.93 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 2.60 and a beta of 1.00.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 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 the consensus estimate of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Friday, November 28th. Hubbell’s dividend payout ratio (DPR) is 35.24%.

About Hubbell

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.