JLB & Associates Inc. Acquires New Stake in Hubbell Inc $HUBB

JLB & Associates Inc. acquired a new stake in shares of Hubbell Inc (NYSE:HUBB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,861 shares of the industrial products company’s stock, valued at approximately $5,159,000.

Several other hedge funds have also added to or reduced their stakes in HUBB. BlackRock Inc. bought a new position in shares of Hubbell during the second quarter valued at $2,455,986,000. Wellington Management Group LLP boosted its stake in Hubbell by 140.4% in the 4th quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock worth $1,116,773,000 after purchasing an additional 1,468,701 shares in the last quarter. State Street Corp boosted its stake in Hubbell by 1.8% in the 4th quarter. State Street Corp now owns 2,302,567 shares of the industrial products company’s stock worth $1,022,593,000 after purchasing an additional 40,623 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Hubbell during the 2nd quarter valued at about $783,142,000. Finally, Geode Capital Management LLC grew its position in Hubbell by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company’s stock valued at $608,704,000 after purchasing an additional 10,898 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Stephens lifted their target price on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Barclays increased their price target on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Wells Fargo & Company raised their price target on shares of Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Sanford C. Bernstein restated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Finally, Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $554.38.

Insider Activity

In related news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the sale, the vice president owned 2,933 shares of the company’s stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.63% of the stock is currently owned by company insiders.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $484.45 on Wednesday. The business has a 50-day simple moving average of $495.82 and a two-hundred day simple moving average of $498.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 1.61. The firm has a market cap of $25.59 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 2.51 and a beta of 0.90. Hubbell Inc has a fifty-two week low of $403.82 and a fifty-two week high of $565.50.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.39 by $0.13. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, analysts expect that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued 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 Monday, August 31st. Hubbell’s dividend payout ratio is presently 33.63%.

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.