Parnassus Investments LLC Has $86.58 Million Stock Holdings in Hubbell Inc $HUBB

Parnassus Investments LLC grew its holdings in Hubbell Inc (NYSE:HUBB) by 38.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 194,948 shares of the industrial products company’s stock after buying an additional 54,263 shares during the quarter. Parnassus Investments LLC owned approximately 0.37% of Hubbell worth $86,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp increased its stake in shares of Hubbell by 3.6% in the third quarter. State Street Corp now owns 2,261,944 shares of the industrial products company’s stock valued at $973,337,000 after buying an additional 78,539 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Hubbell by 0.8% in 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 buying an additional 10,898 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Hubbell by 0.8% in the fourth quarter. Deutsche Bank AG now owns 1,142,410 shares of the industrial products company’s stock valued at $507,356,000 after buying an additional 9,202 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Hubbell by 18.5% in the third quarter. Wellington Management Group LLP now owns 1,045,931 shares of the industrial products company’s stock valued at $450,075,000 after buying an additional 163,626 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Hubbell by 30.7% in the third quarter. Boston Partners now owns 736,469 shares of the industrial products company’s stock valued at $316,521,000 after buying an additional 172,990 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HUBB shares. Barclays raised their target price on 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 lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Wells Fargo & Company lifted their price objective on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Morgan Stanley lifted their price objective on Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Finally, Stephens lifted their price objective on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average target price of $546.25.

Hubbell Price Performance

Shares of HUBB stock opened at $468.83 on Friday. The stock has a 50-day moving average price of $501.87 and a 200 day moving average price of $484.99. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54. The firm has a market cap of $24.77 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.36 and a beta of 0.91. Hubbell Inc has a 12 month low of $380.86 and a 12 month high of $565.50.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $3.93 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.06. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Research analysts expect that Hubbell Inc will post 19.84 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, May 29th. Hubbell’s payout ratio is presently 33.55%.

Hubbell Company 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.