Victory Capital Management Inc. Trims Stock Position in Hubbell Inc $HUBB

Victory Capital Management Inc. cut its holdings in Hubbell Inc (NYSE:HUBB) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 722,681 shares of the industrial products company’s stock after selling 21,784 shares during the quarter. Victory Capital Management Inc. owned approximately 1.36% of Hubbell worth $310,977,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. grew its holdings in Hubbell by 141.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Hubbell in the third quarter worth $37,000. Root Financial Partners LLC purchased a new stake in shares of Hubbell in the third quarter valued at $45,000. SBI Securities Co. Ltd. boosted its stake in shares of Hubbell by 278.1% during the third quarter. SBI Securities Co. Ltd. now owns 121 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 89 shares during the last quarter. Finally, Johnson Financial Group Inc. boosted its stake in shares of 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 acquiring an additional 89 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 2,601 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $523.73, for a total transaction of $1,362,221.73. Following the transaction, the insider owned 2,592 shares in the company, valued at $1,357,508.16. The trade was a 50.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Katherine Anne Lane sold 4,610 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $505.60, for a total value of $2,330,816.00. Following the completion of the transaction, the vice president owned 14,913 shares of the company’s stock, valued at approximately $7,540,012.80. This represents a 23.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 34,689 shares of company stock valued at $17,407,395. 0.76% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Mizuho set a $575.00 price target on shares of Hubbell in a research note on Wednesday, February 4th. Wells Fargo & Company upped their price objective on shares of Hubbell from $515.00 to $550.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research report on Thursday, January 22nd. Morgan Stanley set a $515.00 price target on Hubbell in a report on Wednesday, January 7th. Finally, Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Monday, February 16th. Five research 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 an average rating of “Moderate Buy” and a consensus target price of $529.75.

Hubbell Price Performance

HUBB stock opened at $488.16 on Wednesday. The company has a market cap of $25.95 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.61 and a beta of 1.00. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $489.93 and a two-hundred day moving average price of $455.27. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $533.80.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, February 3rd. The industrial products company reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.03. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Hubbell had a return on equity of 27.45% and a net margin of 15.29%.The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.10 EPS. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. As a group, research analysts predict that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business 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 of this dividend is Friday, February 27th. This represents a $5.68 annualized dividend and a yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is 34.07%.

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.