NewEdge Wealth LLC Takes $745,000 Position in Hubbell Inc $HUBB

NewEdge Wealth LLC acquired a new position in Hubbell Inc (NYSE:HUBB) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,424 shares of the industrial products company’s stock, valued at approximately $745,000.

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

Wall Street Analyst Weigh In

HUBB has been the topic of a number of recent analyst reports. Weiss Ratings downgraded Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their target price on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. UBS Group restated a “neutral” rating and set a $515.00 price target on shares of Hubbell in a report on Tuesday, June 16th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Finally, Barclays lifted their price objective on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and an average price target of $553.89.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $470.69 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50. The stock’s 50 day moving average is $495.92 and its 200-day moving average is $498.43. The firm has a market capitalization of $24.87 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.30 and a beta of 0.90.

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

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s dividend payout ratio is currently 33.63%.

Insiders Place Their Bets

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total transaction of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares in the company, valued at approximately $1,520,936.48. The trade was a 15.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

About Hubbell

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.