Vise Technologies Inc. Takes $252,000 Position in Hubbell Inc $HUBB

Vise Technologies Inc. purchased a new position in Hubbell Inc (NYSE:HUBB) in the second quarter, Holdings Channel reports. The institutional investor purchased 618 shares of the industrial products company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of Hubbell in the 1st quarter worth $213,283,000. Adage Capital Partners GP L.L.C. increased its position in shares of Hubbell by 181.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after acquiring an additional 628,886 shares during the period. Mirova US LLC purchased a new stake in Hubbell in the second quarter worth $139,386,000. Deutsche Bank AG lifted its holdings in Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock worth $365,353,000 after buying an additional 287,047 shares during the period. Finally, Parnassus Investments LLC purchased a new position in shares of Hubbell in the 1st quarter valued at approximately $57,432,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 2.8%

NYSE:HUBB opened at $420.54 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $437.49 and a 200 day moving average of $419.45. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26. The stock has a market capitalization of $22.35 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 2.60 and a beta of 1.00.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS 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 for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm posted $4.49 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.4%. This is an increase from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date is Friday, November 28th. Hubbell’s dividend payout ratio (DPR) is 35.24%.

Insider Activity at Hubbell

In related 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 value of $945,813.52. Following the completion of the sale, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 4,785 shares in the company, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Barclays upped their price target on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Finally, Mizuho raised 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. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $477.83.

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.