Federated Hermes Inc. Has $33.50 Million Stock Holdings in Hubbell Inc $HUBB

Federated Hermes Inc. decreased its stake in Hubbell Inc (NYSE:HUBB) by 11.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,857 shares of the industrial products company’s stock after selling 10,433 shares during the quarter. Federated Hermes Inc. owned 0.15% of Hubbell worth $33,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp raised its holdings in Hubbell by 5.1% during the 3rd quarter. Truist Financial Corp now owns 17,339 shares of the industrial products company’s stock worth $7,461,000 after buying an additional 847 shares during the period. EWA LLC purchased a new position in shares of Hubbell in the third quarter worth approximately $200,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Hubbell by 2.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,854 shares of the industrial products company’s stock valued at $766,000 after acquiring an additional 38 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Hubbell by 522.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 4,745 shares of the industrial products company’s stock valued at $2,042,000 after acquiring an additional 3,983 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Hubbell by 2.7% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,440 shares of the industrial products company’s stock valued at $12,668,000 after acquiring an additional 763 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

HUBB has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Wells Fargo & Company lifted their price target on Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Morgan Stanley set a $515.00 price objective on Hubbell in a research note on Wednesday, January 7th. Mizuho raised their price objective on Hubbell from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and an average price target of $497.25.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total value of $945,813.52. Following the transaction, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John F. Malloy acquired 435 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $429.24 per share, for a total transaction of $186,719.40. Following the transaction, 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 position. The disclosure for this purchase is available in the SEC filing. 0.66% of the stock is currently owned by company insiders.

Hubbell Price Performance

HUBB opened at $488.11 on Friday. The stock has a fifty day moving average price of $457.30 and a 200 day moving average price of $442.25. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $501.32. The stock has a market cap of $25.94 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.52 and a beta of 1.02.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm posted $4.49 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. Analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

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.