Wealthfront Advisers LLC Invests $5.64 Million in Hubbell Inc $HUBB

Wealthfront Advisers LLC acquired a new position in Hubbell Inc (NYSE:HUBB) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 10,779 shares of the industrial products company’s stock, valued at approximately $5,640,000.

Several other hedge funds have also recently added to or reduced their stakes in HUBB. BlackRock Inc. purchased a new position in shares of Hubbell during the 2nd quarter worth approximately $2,455,986,000. Wellington Management Group LLP increased its position in Hubbell by 140.4% during 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 buying an additional 1,468,701 shares in the last quarter. State Street Corp raised its holdings 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 acquiring an additional 40,623 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Hubbell in the second quarter valued at $783,142,000. Finally, Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 10,898 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HUBB. Sanford C. Bernstein restated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays upped their price objective 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. Finally, Robert W. Baird set a $550.00 price objective on shares of Hubbell in a report on Thursday. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $553.89.

Hubbell Stock Down 1.1%

Shares of NYSE HUBB opened at $470.45 on Friday. The stock has a market capitalization of $24.85 billion, a PE ratio of 27.85, a P/E/G ratio of 2.33 and a beta of 0.90. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. The firm has a fifty day moving average of $496.03 and a 200-day moving average of $498.62. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.13. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company posted $4.93 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, analysts anticipate that Hubbell Inc will post 20.41 EPS for the current year.

Hubbell Announces Dividend

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

Insider Buying and Selling at Hubbell

In other news, VP Nero Jonathan M. Del sold 547 shares of Hubbell 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 transaction, the vice president directly owned 2,933 shares of the company’s stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.63% of the stock is owned by corporate insiders.

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.