QRG Capital Management Inc. Has $1.15 Million Stock Holdings in Hubbell Inc $HUBB

QRG Capital Management Inc. trimmed its holdings in shares of Hubbell Inc (NYSE:HUBB) by 55.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,664 shares of the industrial products company’s stock after selling 3,324 shares during the period. QRG Capital Management Inc.’s holdings in Hubbell were worth $1,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Cullen Frost Bankers Inc. raised its stake in shares of Hubbell by 400.0% during 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 during the last quarter. Mather Group LLC. bought a new stake in shares of Hubbell in the third quarter worth $37,000. Johnson Financial Group Inc. grew its stake in Hubbell by 185.4% in the second 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 in the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of Hubbell during the 2nd quarter worth about $57,000. Finally, MUFG Securities EMEA plc acquired a new stake in Hubbell during the 2nd quarter valued at $65,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the transaction, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John F. Malloy purchased 435 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average price of $429.24 per share, with a total value of $186,719.40. Following the acquisition, the director directly owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This represents a 2.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HUBB. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Barclays lifted their price target on shares of Hubbell from $456.00 to $465.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Wells Fargo & Company increased their price objective on shares of Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. UBS Group reaffirmed a “neutral” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, December 12th. Finally, Evercore ISI assumed coverage on Hubbell in a research note on Monday, December 15th. They issued an “outperform” rating and a $575.00 price target for the company. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average price target of $497.25.

Hubbell Stock Performance

Shares of Hubbell stock opened at $473.11 on Wednesday. The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 2.48 and a beta of 1.02. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $497.95. The company’s fifty day moving average is $447.59 and its 200 day moving average is $438.66. 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 (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 firm 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 company earned $4.49 EPS. 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. Sell-side analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

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

Hubbell Company Profile

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.