Hubbell Inc $HUBB Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd lessened its stake in shares of Hubbell Inc (NYSE:HUBB) by 82.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,519 shares of the industrial products company’s stock after selling 16,033 shares during the period. Vinva Investment Management Ltd’s holdings in Hubbell were worth $1,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Hubbell by 0.3% during the second 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. increased its holdings in shares of Hubbell by 2.1% during the 1st quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company’s stock worth $503,757,000 after buying an additional 31,859 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Hubbell by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock worth $550,571,000 after buying an additional 24,110 shares during the last quarter. Deutsche Bank AG raised its position in shares of Hubbell by 35.1% during the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock valued at $365,353,000 after buying an additional 287,047 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in Hubbell by 9.5% in 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 during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insiders Place Their Bets

In related news, Director John F. Malloy acquired 435 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $429.24 per share, with a total value of $186,719.40. Following the completion of the transaction, the director owned 19,085 shares of the company’s stock, valued at $8,192,045.40. The trade was a 2.33% increase in their ownership of the stock. The acquisition 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 on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the completion of the sale, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HUBB. JPMorgan Chase & Co. lifted their target price on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Stephens reissued an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Barclays increased their target price on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Finally, Mizuho boosted their price target on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and an average price target of $474.00.

Hubbell Stock Performance

Shares of Hubbell stock opened at $431.43 on Friday. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.76. The business has a 50-day moving average of $434.54 and a 200 day moving average of $422.71. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $484.26.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. 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 earned $4.49 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, sell-side analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently declared 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 represents a $5.68 annualized dividend and a yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio is 35.24%.

About Hubbell

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.