Profund Advisors LLC Invests $309,000 in Hubbell Inc $HUBB

Profund Advisors LLC acquired a new stake in Hubbell Inc (NYSE:HUBB) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 756 shares of the industrial products company’s stock, valued at approximately $309,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in Hubbell during the 2nd quarter worth $29,000. Cullen Frost Bankers Inc. lifted its stake in shares of Hubbell by 400.0% in the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after buying an additional 68 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Hubbell during the first quarter worth about $53,000. Groupe la Francaise acquired a new position in Hubbell during the first quarter worth about $57,000. Finally, Geneos Wealth Management Inc. grew its stake in Hubbell by 271.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 1.3%

HUBB opened at $431.97 on Friday. The stock has a market capitalization of $22.96 billion, a PE ratio of 26.80, a P/E/G ratio of 2.60 and a beta of 1.00. Hubbell Inc has a one year low of $299.42 and a one year 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. The business’s 50 day moving average price is $437.81 and its 200 day moving average price is $418.10.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $4.49 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities research analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, November 28th. This is an increase 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%. Hubbell’s dividend payout ratio is currently 35.24%.

Insider Activity

In other news, insider Mark Eugene Mikes sold 2,470 shares of the company’s 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 transaction, the insider directly owned 4,785 shares in the company, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $945,813.52. Following the transaction, the insider directly owned 3,243 shares of the company’s stock, valued at $1,525,247.76. The trade was a 38.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HUBB shares. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. Mizuho increased their price target on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Stephens reiterated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. JPMorgan Chase & Co. upped their target price on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, Barclays raised their target price on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and an average target price of $477.83.

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.