Mirabella Financial Services LLP Increases Position in Hubbell Inc $HUBB

Mirabella Financial Services LLP grew its holdings in shares of Hubbell Inc (NYSE:HUBB) by 663.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,473 shares of the industrial products company’s stock after purchasing an additional 14,316 shares during the period. Mirabella Financial Services LLP’s holdings in Hubbell were worth $6,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Epoch Investment Partners Inc. increased its holdings in shares of Hubbell by 22.5% during the second quarter. Epoch Investment Partners Inc. now owns 42,729 shares of the industrial products company’s stock valued at $17,451,000 after acquiring an additional 7,844 shares in the last quarter. Guggenheim Capital LLC grew its position in Hubbell by 0.8% during the 2nd quarter. Guggenheim Capital LLC now owns 3,911 shares of the industrial products company’s stock valued at $1,597,000 after purchasing an additional 32 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Hubbell by 31.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 468 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 111 shares in the last quarter. Invesco Ltd. increased its stake in Hubbell by 0.6% during the 2nd quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock valued at $625,698,000 after purchasing an additional 9,697 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in Hubbell in the second quarter worth about $2,239,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 2.0%

NYSE:HUBB opened at $437.87 on Friday. The business has a fifty day moving average price of $434.51 and a 200-day moving average price of $423.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85. Hubbell Inc has a one year low of $299.42 and a one year high of $484.26. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 2.36 and a beta of 1.01.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Sell-side analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, November 28th. 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. Hubbell’s payout ratio is presently 35.24%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HUBB shares. Wells Fargo & Company increased their price target on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Mizuho boosted their target price on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $474.00.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction 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 transaction, the insider owned 3,243 shares of the company’s stock, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the transaction, the insider owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their position. The SEC filing for this sale provides additional information. 0.66% of the stock is currently owned by corporate insiders.

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.