Hubbell Inc $HUBB Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. raised its holdings in Hubbell Inc (NYSE:HUBB) by 80.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,368 shares of the industrial products company’s stock after acquiring an additional 15,343 shares during the period. Hubbell makes up approximately 0.8% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 28th largest position. Meeder Asset Management Inc. owned about 0.06% of Hubbell worth $14,789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Hubbell by 0.3% during the second quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock worth $2,714,669,000 after buying an additional 21,508 shares in the last quarter. State Street Corp raised its holdings in shares of Hubbell by 1.2% during the 2nd quarter. State Street Corp now owns 2,183,405 shares of the industrial products company’s stock worth $891,724,000 after acquiring an additional 26,708 shares during the period. Invesco Ltd. boosted its position in shares of 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 acquiring an additional 9,697 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Hubbell by 1.8% in the second quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock valued at $550,571,000 after purchasing an additional 24,110 shares during the period. Finally, Impax Asset Management Group plc increased its position in Hubbell by 9.5% during the second quarter. Impax Asset Management Group plc now owns 1,006,783 shares of the industrial products company’s stock worth $409,363,000 after purchasing an additional 87,627 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred 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 directly owned 3,243 shares in the company, valued at $1,525,247.76. This represents a 38.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John F. Malloy purchased 435 shares of the company’s stock in a transaction on Monday, November 17th. The stock was acquired at an average price of $429.24 per share, with a total value of $186,719.40. Following the purchase, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This represents a 2.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, December 12th. JPMorgan Chase & Co. upped their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Wells Fargo & Company raised their target price on Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley set a $515.00 price target on Hubbell in a research note on Wednesday. Finally, Wall Street Zen cut Hubbell from a “strong-buy” rating to a “buy” rating in a report on Monday, December 29th. Five 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 an average rating of “Moderate Buy” and an average target price of $497.25.

Hubbell Trading Up 2.3%

HUBB opened at $471.30 on Monday. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $444.88 and a 200-day simple moving average of $435.22. The firm has a market cap of $25.05 billion, a P/E ratio of 29.24, a P/E/G ratio of 2.39 and a beta of 1.02.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (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 firm 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 company earned $4.49 EPS. Hubbell’s revenue was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The firm 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 of this dividend was Friday, November 28th. This is a positive change 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%.

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.