Mitsubishi UFJ Asset Management Co. Ltd. Makes New $68.34 Million Investment in Hubbell Inc $HUBB

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Hubbell Inc (NYSE:HUBB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 130,619 shares of the industrial products company’s stock, valued at approximately $68,340,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of Hubbell at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HUBB. Jones Financial Companies Lllp raised its stake in shares of Hubbell by 171.9% in the 1st quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company’s stock valued at $795,000 after acquiring an additional 1,518 shares in the last quarter. Empowered Funds LLC boosted its position in Hubbell by 18.9% during the first quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company’s stock worth $408,000 after purchasing an additional 196 shares during the period. Geneos Wealth Management Inc. boosted its position in Hubbell by 271.9% during the first quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 155 shares during the period. Acadian Asset Management LLC acquired a new position in Hubbell during the first quarter valued at approximately $599,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Hubbell by 31.1% during the second quarter. EverSource Wealth Advisors LLC now owns 468 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 111 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Trading Down 1.6%

Shares of HUBB stock opened at $475.88 on Thursday. Hubbell Inc has a 1 year low of $403.82 and a 1 year high of $565.50. The firm’s fifty day simple moving average is $495.99 and its 200 day simple moving average is $498.75. The firm has a market capitalization of $25.14 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS 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 firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company earned $4.93 EPS. 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, sell-side analysts predict that Hubbell Inc will post 20.41 EPS for the current year.

Hubbell Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HUBB. Wells Fargo & Company boosted their price objective on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Barclays raised their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Sanford C. Bernstein reissued an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Finally, Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $554.38.

Insider Activity at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the sale, the vice president owned 2,933 shares in the company, valued at approximately $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

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.