Vinva Investment Management Ltd Sells 16,033 Shares of Hubbell Inc $HUBB

Vinva Investment Management Ltd lowered its position in Hubbell Inc (NYSE:HUBB) by 82.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,519 shares of the industrial products company’s stock after selling 16,033 shares during the period. Vinva Investment Management Ltd’s holdings in Hubbell were worth $1,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HUBB. Central Pacific Bank Trust Division purchased a new position in Hubbell in the second quarter worth $29,000. Cullen Frost Bankers Inc. grew its stake in Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after buying an additional 68 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Hubbell during the 1st quarter worth $53,000. Groupe la Francaise acquired a new position in Hubbell during the 1st quarter valued at about $57,000. Finally, Geneos Wealth Management Inc. raised its stake in Hubbell by 271.9% in the first quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock valued at $70,000 after buying an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the topic of a number of research analyst reports. UBS Group started coverage on Hubbell in a research note on Thursday, November 20th. They set a “neutral” rating and a $450.00 price target on the stock. Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. Stephens restated an “overweight” rating and set a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Wells Fargo & Company raised their price target on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Barclays boosted their price objective on shares of Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $474.00.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 2,011 shares of Hubbell stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total transaction of $945,813.52. Following the sale, the insider owned 3,243 shares of the company’s stock, valued at $1,525,247.76. The trade was a 38.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 sale, the insider directly owned 4,785 shares of the company’s stock, valued at $2,232,202.50. The trade was a 34.05% 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.

Hubbell Stock Up 0.7%

Shares of HUBB opened at $431.43 on Friday. The firm has a market cap of $22.93 billion, a P/E ratio of 26.76, a PEG ratio of 2.60 and a beta of 1.00. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $484.26. The stock’s 50 day moving average is $434.54 and its two-hundred day moving average is $422.71. The company has a current ratio of 1.36, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28.

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

Hubbell Increases Dividend

The company also recently disclosed 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. This represents a $5.68 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is presently 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.