Vestor Capital LLC Decreases Position in Hubbell Inc $HUBB

Vestor Capital LLC trimmed its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 62.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,560 shares of the industrial products company's stock after selling 2,566 shares during the period. Vestor Capital LLC's holdings in Hubbell were worth $637,000 at the end of the most recent reporting period.

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Several other large investors have also recently modified their holdings of the stock. Nuveen LLC bought a new stake in shares of Hubbell in the 1st quarter valued at about $213,283,000. Adage Capital Partners GP L.L.C. lifted its position in Hubbell by 181.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company's stock valued at $322,702,000 after purchasing an additional 628,886 shares during the last quarter. Boston Partners bought a new stake in Hubbell in the second quarter valued at approximately $230,200,000. Mirova US LLC purchased a new stake in shares of Hubbell during the second quarter valued at approximately $139,386,000. Finally, Deutsche Bank AG grew its holdings in shares of Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after purchasing an additional 287,047 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

Hubbell stock opened at $422.19 on Friday. The stock has a market cap of $22.44 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 2.60 and a beta of 1.00. The stock's 50 day simple moving average is $435.46 and its two-hundred day simple moving average is $420.77. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $484.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.36.

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Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, beating analysts' consensus estimates of $4.98 by $0.19. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $1.42 dividend. This is a positive change from Hubbell's previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 28th. Hubbell's dividend payout ratio is currently 35.24%.

Wall Street Analysts Forecast Growth

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A number of equities research analysts recently commented on HUBB shares. Wells Fargo & Company upped their price target on shares of Hubbell from $490.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, October 29th. Barclays boosted their price objective on shares of Hubbell from $431.00 to $456.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 29th. UBS Group initiated coverage on shares of Hubbell in a report on Thursday. They set a "neutral" rating and a $450.00 target price for the company. Wall Street Zen upgraded Hubbell from a "buy" rating to a "strong-buy" rating in a report on Sunday, November 2nd. Finally, Mizuho upped their price target on Hubbell from $475.00 to $480.00 and gave the company an "outperform" rating in a research report on Friday, October 17th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $473.86.

Read Our Latest Analysis on Hubbell

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total value of $1,152,255.00. Following the completion of the sale, the insider directly owned 4,785 shares of the company's stock, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John F. Malloy bought 435 shares of the firm's stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the purchase, the director owned 19,085 shares in the company, valued at $8,192,045.40. This trade represents a 2.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.66% of the company's stock.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.

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