HM Payson & Co. Has $65.41 Million Position in Hubbell Inc $HUBB

HM Payson & Co. trimmed its position in Hubbell Inc (NYSE:HUBB) by 19.6% during the third quarter, Holdings Channel reports. The institutional investor owned 152,006 shares of the industrial products company’s stock after selling 37,095 shares during the quarter. HM Payson & Co.’s holdings in Hubbell were worth $65,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in shares of Hubbell during the second quarter valued at $29,000. Cullen Frost Bankers Inc. increased its position in 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 purchasing an additional 68 shares during the period. Ransom Advisory Ltd bought a new stake in Hubbell during the 1st quarter worth about $53,000. Johnson Financial Group Inc. lifted its position in Hubbell by 185.4% during the 2nd quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 89 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Hubbell in the 2nd quarter valued at about $57,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 2,011 shares of the company’s 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 completion of the transaction, the insider owned 3,243 shares of the company’s stock, valued at $1,525,247.76. This represents a 38.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the transaction, the insider directly owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.76% of the company’s stock.

Hubbell Stock Down 0.4%

Hubbell stock opened at $454.56 on Monday. The company has a 50 day moving average of $442.23 and a 200-day moving average of $430.67. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $484.26. The stock has a market capitalization of $24.16 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating the consensus estimate of $4.98 by $0.19. The business had revenue of $1.50 billion for 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 firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

Wall Street Analyst Weigh In

HUBB has been the subject of several analyst reports. Barclays lifted their price target 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. JPMorgan Chase & Co. upped their price target on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Wells Fargo & Company upped their target price on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Stephens reiterated an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $488.43.

About Hubbell

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.