Mengis Capital Management Inc. Reduces Stake in Hubbell Inc $HUBB

Mengis Capital Management Inc. lessened its stake in shares of Hubbell Inc (NYSE:HUBB) by 35.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,000 shares of the industrial products company’s stock after selling 5,000 shares during the period. Mengis Capital Management Inc.’s holdings in Hubbell were worth $3,676,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Commerzbank Aktiengesellschaft FI acquired a new stake in Hubbell during the 2nd quarter valued at $208,000. McKinley Carter Wealth Services Inc. raised its position in shares of Hubbell by 16.7% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after buying an additional 2,843 shares during the period. Ramirez Asset Management Inc. raised its position in shares of Hubbell by 37.3% in the 2nd quarter. Ramirez Asset Management Inc. now owns 938 shares of the industrial products company’s stock worth $383,000 after buying an additional 255 shares during the period. Callan Family Office LLC purchased a new position in shares of Hubbell in the 2nd quarter worth $452,000. Finally, Tectonic Advisors LLC purchased a new position in shares of Hubbell in the 2nd quarter worth $242,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on HUBB shares. Wells Fargo & Company raised Hubbell from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Barclays lifted their price target on Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Stephens reiterated an “overweight” rating and issued a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday. Finally, Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $472.63.

Hubbell Stock Performance

HUBB opened at $418.76 on Friday. The company has a market capitalization of $22.25 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The business has a 50 day moving average price of $431.33 and a two-hundred day moving average price of $398.80.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $0.57. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Research analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.3%. Hubbell’s dividend payout ratio is currently 34.29%.

Hubbell 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.