ProShare Advisors LLC Sells 1,783 Shares of Hubbell Inc $HUBB

ProShare Advisors LLC trimmed its holdings in shares of Hubbell Inc (NYSE:HUBB) by 14.3% in the third quarter, Holdings Channel.com reports. The fund owned 10,680 shares of the industrial products company’s stock after selling 1,783 shares during the quarter. ProShare Advisors LLC’s holdings in Hubbell were worth $4,596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Townsquare Capital LLC raised its position in Hubbell by 0.8% in the third quarter. Townsquare Capital LLC now owns 2,817 shares of the industrial products company’s stock worth $1,212,000 after purchasing an additional 22 shares in the last quarter. Unique Wealth LLC raised its holdings in shares of Hubbell by 2.6% in the 3rd quarter. Unique Wealth LLC now owns 897 shares of the industrial products company’s stock worth $386,000 after buying an additional 23 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Hubbell by 2.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock worth $505,000 after buying an additional 24 shares during the period. Blue Trust Inc. lifted its position in shares of Hubbell by 5.5% during the 3rd quarter. Blue Trust Inc. now owns 480 shares of the industrial products company’s stock worth $207,000 after buying an additional 25 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Hubbell by 5.7% in the 3rd quarter. Versant Capital Management Inc now owns 485 shares of the industrial products company’s stock valued at $209,000 after buying an additional 26 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 25,233 shares of Hubbell stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $498.97, for a total value of $12,590,510.01. Following the completion of the sale, the chief executive officer directly owned 64,420 shares in the company, valued at $32,143,647.40. This trade represents a 28.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John F. Malloy acquired 435 shares of the company’s stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $429.24 per share, with a total value of $186,719.40. Following the completion of the acquisition, the director directly 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 SEC filing for this purchase provides additional information. Insiders sold a total of 32,088 shares of company stock valued at $16,045,173 over the last quarter. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Up 1.5%

Shares of NYSE HUBB opened at $523.64 on Friday. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $533.80. The company has a market cap of $27.83 billion, a PE ratio of 31.41, a P/E/G ratio of 2.61 and a beta of 1.02. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $471.98 and a two-hundred day moving average of $447.36.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $4.73 EPS for the quarter, beating the consensus estimate of $4.70 by $0.03. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Hubbell had a net margin of 15.29% and a return on equity of 27.45%. Hubbell’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.10 earnings per share. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. As a group, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, February 27th. Hubbell’s dividend payout ratio (DPR) is 34.07%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays increased their price objective on Hubbell from $465.00 to $481.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Morgan Stanley set a $515.00 target price on shares of Hubbell in a research report on Wednesday, January 7th. JPMorgan Chase & Co. lifted their price target on shares of Hubbell from $478.00 to $532.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Evercore raised their price objective on shares of Hubbell from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Mizuho set a $575.00 target price on Hubbell in a report on Wednesday, February 4th. Five 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $529.75.

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.