Hubbell Inc $HUBB Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in Hubbell Inc (NYSE:HUBB) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 318,039 shares of the industrial products company’s stock after selling 1,825 shares during the period. PNC Financial Services Group Inc.’s holdings in Hubbell were worth $141,244,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in HUBB. Tredje AP fonden boosted its stake in Hubbell by 27.1% in the 4th quarter. Tredje AP fonden now owns 7,139 shares of the industrial products company’s stock worth $3,171,000 after purchasing an additional 1,522 shares during the period. Handelsbanken Fonder AB grew its position in Hubbell by 42.7% during the 4th quarter. Handelsbanken Fonder AB now owns 46,705 shares of the industrial products company’s stock worth $20,742,000 after purchasing an additional 13,984 shares in the last quarter. ProShare Advisors LLC grew its position in Hubbell by 7.0% during the 4th quarter. ProShare Advisors LLC now owns 11,423 shares of the industrial products company’s stock worth $5,073,000 after purchasing an additional 743 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Hubbell during the 4th quarter worth approximately $4,600,000. Finally, TD Private Client Wealth LLC grew its position in Hubbell by 19.5% during the 4th quarter. TD Private Client Wealth LLC now owns 1,246 shares of the industrial products company’s stock worth $553,000 after purchasing an additional 203 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

HUBB opened at $462.51 on Thursday. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.33 and a beta of 0.95. Hubbell Inc has a 1 year low of $374.68 and a 1 year high of $565.50. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $503.72 and a 200 day moving average price of $481.44.

Hubbell (NYSE:HUBB) last issued its earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.06. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $3.50 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Analysts forecast that Hubbell Inc will post 19.83 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. Hubbell’s dividend payout ratio (DPR) is presently 33.55%.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several research analyst reports. Mizuho set a $575.00 price objective on shares of Hubbell in a research report on Wednesday, February 4th. Evercore lifted their price objective on shares of Hubbell from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research report on Thursday, January 22nd. Barclays lifted their price objective on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Finally, Morgan Stanley lifted their price objective on shares of Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $546.25.

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.