Franklin Resources Inc. Has $80.84 Million Stock Holdings in Hubbell Inc $HUBB

Franklin Resources Inc. boosted its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 58.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,930 shares of the industrial products company's stock after purchasing an additional 73,357 shares during the period. Franklin Resources Inc. owned 0.37% of Hubbell worth $80,837,000 at the end of the most recent reporting period.

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A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Hubbell by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company's stock worth $2,714,669,000 after purchasing an additional 21,508 shares during the last quarter. Invesco Ltd. grew its stake in shares of Hubbell by 2.1% in the 1st quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company's stock valued at $503,757,000 after buying an additional 31,859 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Hubbell by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company's stock valued at $550,571,000 after buying an additional 24,110 shares in the last quarter. Deutsche Bank AG increased its holdings in 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 buying an additional 287,047 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in Hubbell by 9.5% during the second quarter. Impax Asset Management Group plc now owns 1,006,783 shares of the industrial products company's stock valued at $409,363,000 after acquiring an additional 87,627 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

NYSE:HUBB opened at $424.03 on Tuesday. The firm has a market capitalization of $22.53 billion, a PE ratio of 26.30, a PEG ratio of 2.60 and a beta of 1.00. The company has a current ratio of 1.36, a quick ratio of 0.76 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 $484.26. The firm's fifty day simple moving average is $435.17 and its 200 day simple moving average is $421.74.

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

Hubbell Increases Dividend

The firm 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 an increase from Hubbell's previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. Hubbell's payout ratio is 35.24%.

Insiders Place Their Bets

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In related news, Director John F. Malloy acquired 435 shares of the stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the purchase, the director owned 19,085 shares in the company, valued at approximately $8,192,045.40. The trade was a 2.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the business's stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the transaction, the insider directly owned 3,243 shares in the company, valued at $1,525,247.76. This trade represents a 38.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays boosted their target price on shares of Hubbell from $431.00 to $456.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 29th. UBS Group initiated coverage on shares of Hubbell in a research note on Thursday, November 20th. They issued a "neutral" rating and a $450.00 price objective for the company. Mizuho upped their price objective on shares of Hubbell from $475.00 to $480.00 and gave the stock an "outperform" rating in a report on Friday, October 17th. Weiss Ratings restated a "buy (b-)" rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Stephens reaffirmed an "overweight" rating and issued a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Hubbell presently has an average rating of "Moderate Buy" and a consensus price target of $473.86.

Get Our Latest Research Report on Hubbell

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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