Legal & General Group Plc Purchases Shares of 272,459 Hubbell Inc $HUBB

Legal & General Group Plc purchased a new stake in Hubbell Inc (NYSE:HUBB) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 272,459 shares of the industrial products company’s stock, valued at approximately $142,551,000.

A number of other institutional investors have also made changes to their positions in the business. Pinnacle Bancorp Inc. increased its position in Hubbell by 165.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock worth $26,000 after buying an additional 33 shares during the period. Raiffeisen Bank International AG boosted its position in shares of Hubbell by 83.3% in the fourth quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Hubbell in the third quarter worth $33,000. DV Equities LLC bought a new position in Hubbell during the fourth quarter worth $33,000. Finally, Leonteq Securities AG acquired a new position in Hubbell during the 1st quarter valued at $33,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Down 0.5%

Shares of HUBB stock opened at $470.29 on Friday. The stock has a market cap of $24.85 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 2.31 and a beta of 0.90. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50. The stock has a fifty day moving average price of $492.88 and a 200 day moving average price of $497.69. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $4.93 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Analysts predict that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $1.42 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. Hubbell’s payout ratio is presently 33.63%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird assumed coverage on shares of Hubbell in a research report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 price target on the stock. Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Barclays increased their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company lifted their target price on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $553.89.

Insiders Place Their Bets

In related news, VP Nero Jonathan M. Del sold 547 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the sale, the vice president owned 2,933 shares of the company’s stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by insiders.

About Hubbell

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.