OFI Invest Asset Management Purchases New Stake in Hubbell Inc $HUBB

OFI Invest Asset Management purchased a new stake in Hubbell Inc (NYSE:HUBB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,509 shares of the industrial products company’s stock, valued at approximately $22,876,000. OFI Invest Asset Management owned approximately 0.10% of Hubbell at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd acquired a new stake in Hubbell in the fourth quarter valued at $825,000. Sowell Financial Services LLC acquired a new stake in Hubbell in the fourth quarter valued at $784,000. Florida Trust Wealth Management Co raised its holdings in Hubbell by 7.6% in the fourth quarter. Florida Trust Wealth Management Co now owns 511 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 36 shares in the last quarter. Signaturefd LLC raised its holdings in Hubbell by 8.3% in the fourth quarter. Signaturefd LLC now owns 845 shares of the industrial products company’s stock valued at $375,000 after acquiring an additional 65 shares in the last quarter. Finally, Ascent Group LLC raised its holdings in Hubbell by 6.6% in the fourth quarter. Ascent Group LLC now owns 1,151 shares of the industrial products company’s stock valued at $511,000 after acquiring an additional 71 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HUBB shares. JPMorgan Chase & Co. upped 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a report on Thursday, January 22nd. Wall Street Zen cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Barclays increased their target price on shares of Hubbell from $465.00 to $481.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Finally, Stephens reissued an “overweight” rating and set a $550.00 target price on shares of Hubbell in a report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

Hubbell Stock Up 5.5%

Shares of NYSE:HUBB opened at $526.99 on Thursday. The stock has a market capitalization of $28.01 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00. Hubbell Inc has a 1-year low of $314.78 and a 1-year high of $533.80. The company’s fifty day moving average is $498.16 and its two-hundred day moving average is $464.14. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.72.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $4.73 EPS for the quarter, topping the consensus estimate of $4.70 by $0.03. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. Hubbell had a net margin of 15.29% and a return on equity of 27.45%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter 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. Equities analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were given a dividend of $1.42 per share. The ex-dividend date was Friday, February 27th. This represents a $5.68 annualized dividend and a dividend yield of 1.1%. Hubbell’s dividend payout ratio is currently 34.07%.

Insider Activity

In other news, insider Mark Eugene Mikes sold 2,601 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $523.73, for a total transaction of $1,362,221.73. Following the completion of the transaction, the insider owned 2,592 shares in the company, valued at approximately $1,357,508.16. This represents a 50.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Katherine Anne Lane sold 4,610 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $505.60, for a total transaction of $2,330,816.00. Following the transaction, the vice president owned 14,913 shares of the company’s stock, valued at $7,540,012.80. This represents a 23.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,689 shares of company stock worth $17,407,395 over the last ninety days. Insiders own 0.66% of the company’s stock.

Hubbell 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.