PNC Financial Services Group Inc. Cuts Stock Holdings in Hubbell Inc $HUBB

PNC Financial Services Group Inc. lowered its stake in Hubbell Inc (NYSE:HUBB) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 316,978 shares of the industrial products company’s stock after selling 1,061 shares during the quarter. PNC Financial Services Group Inc. owned about 0.60% of Hubbell worth $155,554,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of Hubbell by 140.4% in the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock worth $1,116,773,000 after purchasing an additional 1,468,701 shares during the last quarter. State Street Corp lifted its position in shares of Hubbell by 1.8% in the fourth quarter. State Street Corp now owns 2,302,567 shares of the industrial products company’s stock worth $1,022,593,000 after buying an additional 40,623 shares in the last quarter. Geode Capital Management LLC boosted its stake in Hubbell by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company’s stock valued at $608,704,000 after buying an additional 10,898 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Hubbell by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,214,236 shares of the industrial products company’s stock valued at $539,257,000 after buying an additional 60,071 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Hubbell by 0.8% during the 4th quarter. Deutsche Bank AG now owns 1,142,410 shares of the industrial products company’s stock valued at $507,356,000 after buying an additional 9,202 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $476.99 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 1.58. The firm’s 50 day simple moving average is $488.04 and its 200-day simple moving average is $496.48. The firm has a market cap of $25.20 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 2.40 and a beta of 0.89. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.06. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.50 EPS. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. As a group, equities analysts predict that Hubbell Inc will post 19.97 EPS for the current year.

Hubbell Announces Dividend

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

Analyst Ratings Changes

HUBB has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. UBS Group restated a “neutral” rating and issued a $515.00 price target on shares of Hubbell in a research report on Tuesday, June 16th. Wall Street Zen raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Stephens increased their price objective on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $554.38.

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.