Allianz Asset Management GmbH Buys 53,809 Shares of Hubbell Inc $HUBB

Allianz Asset Management GmbH increased its stake in shares of Hubbell Inc (NYSE:HUBB) by 2,300.5% during the third quarter, HoldingsChannel.com reports. The firm owned 56,148 shares of the industrial products company’s stock after buying an additional 53,809 shares during the period. Allianz Asset Management GmbH’s holdings in Hubbell were worth $24,161,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners purchased a new stake in shares of Hubbell in the second quarter worth about $230,691,000. Troy Asset Management Ltd purchased a new position in Hubbell during the second quarter valued at approximately $132,540,000. Bain Capital Public Equity Management II LLC bought a new stake in Hubbell during the 2nd quarter worth approximately $132,286,000. Massachusetts Financial Services Co. MA lifted its stake in Hubbell by 15.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock worth $712,484,000 after purchasing an additional 226,856 shares in the last quarter. Finally, Merewether Investment Management LP bought a new position in Hubbell in the 2nd quarter valued at $68,164,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Mizuho set a $575.00 price target on shares of Hubbell in a report on Wednesday. Evercore raised their target price on shares of Hubbell from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Wednesday. Stephens reissued an “overweight” rating and issued a $550.00 price target on shares of Hubbell in a research note on Thursday. Morgan Stanley set a $515.00 price objective on shares of Hubbell in a research report on Wednesday, January 7th. Finally, Barclays raised their price target on Hubbell from $465.00 to $481.00 and gave the company an “equal weight” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $529.75.

Hubbell Trading Up 3.3%

Shares of HUBB stock opened at $503.28 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.72 and a quick ratio of 0.85. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $513.59. The business has a 50-day moving average of $463.99 and a 200 day moving average of $444.71. The stock has a market capitalization of $26.75 billion, a PE ratio of 30.19, a P/E/G ratio of 2.48 and a beta of 1.02.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.03. Hubbell had a return on equity of 27.45% and a net margin of 15.29%.The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $4.10 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a $1.42 dividend. The ex-dividend date is Friday, February 27th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.1%. Hubbell’s payout ratio is presently 34.07%.

Insider Activity at Hubbell

In other news, Director John F. Malloy acquired 435 shares of the stock in a transaction dated Monday, November 17th. The stock was purchased at an average cost of $429.24 per share, with a total value of $186,719.40. Following the completion of the purchase, the director owned 19,085 shares in the company, valued at approximately $8,192,045.40. The trade was a 2.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% 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.