Empowered Funds LLC Takes $11.88 Million Position in Hubbell Inc $HUBB

Empowered Funds LLC purchased a new stake in Hubbell Inc (NYSE:HUBB) during the 2nd quarter, HoldingsChannel reports. The fund purchased 22,704 shares of the industrial products company’s stock, valued at approximately $11,879,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HUBB. United Capital Financial Advisors LLC bought a new stake in shares of Hubbell in the 2nd quarter worth about $447,000. Dearborn Partners LLC bought a new stake in Hubbell during the second quarter worth about $275,000. Brasada Capital Management LP bought a new stake in Hubbell during the second quarter worth about $785,000. Jefferies Financial Group Inc. acquired a new stake in shares of Hubbell during the second quarter worth approximately $1,580,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Hubbell during the second quarter worth approximately $8,573,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 2.2%

NYSE:HUBB opened at $459.86 on Friday. Hubbell Inc has a 1 year low of $403.82 and a 1 year high of $565.50. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 2.25 and a beta of 0.90. The stock has a 50-day moving average price of $491.58 and a two-hundred day moving average price of $497.43.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the company earned $4.93 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, equities analysts expect that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s dividend payout ratio is 33.63%.

Insider Activity

In other news, VP Nero Jonathan M. Del sold 547 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the sale, the vice president directly owned 2,933 shares in the company, valued at $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays increased their price target on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Sanford C. Bernstein restated an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Robert W. Baird assumed coverage on shares of Hubbell in a report on Thursday, August 20th. They set an “outperform” rating and a $550.00 price objective on the stock. Wall Street Zen cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings lowered Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $553.89.

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.