New York State Common Retirement Fund Buys 891 Shares of Hubbell Inc $HUBB

New York State Common Retirement Fund increased its stake in shares of Hubbell Inc (NYSE:HUBB) by 1.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,091 shares of the industrial products company’s stock after buying an additional 891 shares during the period. New York State Common Retirement Fund owned about 0.13% of Hubbell worth $27,401,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Central Pacific Bank Trust Division bought a new position in shares of Hubbell during the 2nd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. lifted its stake in Hubbell by 400.0% in the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 68 shares during the last quarter. Ransom Advisory Ltd bought a new position in Hubbell during the first quarter valued at $53,000. Johnson Financial Group Inc. grew its holdings in Hubbell by 185.4% during the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 89 shares during the period. Finally, Groupe la Francaise purchased a new stake in Hubbell in the first quarter worth $57,000. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, Director John F. Malloy acquired 435 shares of the stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the transaction, the director owned 19,085 shares in the company, valued at $8,192,045.40. This represents a 2.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the sale, the insider directly owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

NYSE:HUBB opened at $431.43 on Monday. The stock has a market cap of $22.93 billion, a P/E ratio of 26.76, a PEG ratio of 2.60 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $434.54 and its two-hundred day moving average price is $423.22. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $484.26.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping the consensus estimate of $4.98 by $0.19. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.Hubbell’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is currently 35.24%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HUBB. Mizuho upped their price target on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Stephens reiterated an “overweight” rating and set a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. Finally, UBS Group began coverage on shares of Hubbell in a research note on Thursday, November 20th. They set a “neutral” rating and a $450.00 price target on the stock. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $474.00.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.