Norges Bank Invests $64.80 Million in Hubbell Inc $HUBB

Norges Bank acquired a new position in shares of Hubbell Inc (NYSE:HUBB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 145,898 shares of the industrial products company’s stock, valued at approximately $64,795,000.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Hubbell by 147.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. NBT Bank N A NY bought a new stake in shares of Hubbell during the 4th quarter worth $27,000. Hantz Financial Services Inc. lifted its holdings in shares of Hubbell by 141.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Hubbell by 62.8% during the 4th quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 27 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of Hubbell by 630.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 73 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 63 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Morgan Stanley lifted their price objective on shares of Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 11th. Wells Fargo & Company boosted their price target on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Stephens boosted their price target on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Sunday. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus price target of $546.25.

Hubbell Stock Performance

Hubbell stock opened at $476.37 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $25.17 billion, a PE ratio of 28.14, a P/E/G ratio of 2.40 and a beta of 0.91. The firm has a fifty day simple moving average of $502.20 and a two-hundred day simple moving average of $482.85. Hubbell Inc has a twelve month low of $380.86 and a twelve month high of $565.50.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.06. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.50 billion. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Research analysts expect that Hubbell Inc will post 19.84 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. Hubbell’s dividend payout ratio is 33.55%.

Hubbell 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.