New York State Teachers Retirement System Reduces Stock Holdings in Hubbell Inc $HUBB

New York State Teachers Retirement System reduced its position in shares of Hubbell Inc (NYSE:HUBB) by 3.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 44,048 shares of the industrial products company’s stock after selling 1,403 shares during the quarter. New York State Teachers Retirement System’s holdings in Hubbell were worth $18,954,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Boston Partners purchased a new stake in shares of Hubbell in the 2nd quarter valued at approximately $230,691,000. Mirova US LLC acquired a new position in Hubbell in the second quarter valued at approximately $139,386,000. Troy Asset Management Ltd acquired a new position in Hubbell in the second quarter valued at approximately $132,540,000. Bain Capital Public Equity Management II LLC purchased a new position in Hubbell in the second quarter worth approximately $132,286,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Hubbell by 848.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 191,748 shares of the industrial products company’s stock worth $78,312,000 after acquiring an additional 171,535 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction dated 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 sale, the insider owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This trade represents a 34.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John F. Malloy acquired 435 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was bought at an average price 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. This trade represents a 2.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.76% of the stock is currently owned by company insiders.

Hubbell Stock Up 2.0%

Shares of HUBB opened at $482.12 on Wednesday. The company’s 50-day simple moving average is $445.44 and its 200-day simple moving average is $436.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $484.26. The stock has a market capitalization of $25.62 billion, a PE ratio of 29.91, a P/E/G ratio of 2.40 and a beta of 1.02.

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

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $1.42 dividend. The ex-dividend date was Friday, November 28th. This is an increase from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. Hubbell’s payout ratio is 35.24%.

Analyst Upgrades and Downgrades

A number of research firms have commented on HUBB. Wells Fargo & Company lifted their target price on Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Evercore ISI assumed coverage on shares of Hubbell in a research report on Monday, December 15th. They issued an “outperform” rating and a $575.00 target price on the stock. UBS Group reaffirmed a “neutral” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, December 12th. JPMorgan Chase & Co. boosted their price target on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $497.25.

Hubbell Company 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.