Mitsubishi UFJ Asset Management Co. Ltd. Takes $68.34 Million Position in Hubbell Inc $HUBB

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Hubbell Inc (NYSE:HUBB) in the second quarter, Holdings Channel reports. The institutional investor bought 130,619 shares of the industrial products company’s stock, valued at approximately $68,340,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC acquired a new stake in Hubbell during the second quarter worth $1,897,000. Plato Investment Management Ltd bought a new stake in Hubbell in the 2nd quarter valued at $696,000. HBK Sorce Advisory LLC acquired a new position in shares of Hubbell in the 2nd quarter valued at $306,000. Flputnam Investment Management Co. acquired a new position in shares of Hubbell in the 2nd quarter valued at $369,000. Finally, Global Retirement Partners LLC bought a new position in shares of Hubbell during the 2nd quarter worth about $491,000. 88.16% of the stock is owned by institutional investors.

Hubbell Price Performance

NYSE:HUBB opened at $475.88 on Thursday. 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 market cap of $25.14 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. Hubbell Inc has a 12 month low of $403.82 and a 12 month high of $565.50. The company’s 50-day moving average price is $495.99 and its two-hundred day moving average price is $498.75.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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 net margin of 14.49% and a return on equity of 27.11%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business posted $4.93 earnings per share. The company’s 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, equities analysts anticipate that Hubbell Inc will post 20.41 EPS for the current fiscal year.

Hubbell Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HUBB. Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Barclays increased their price target on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Wells Fargo & Company raised their price target on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. UBS Group reaffirmed a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a report on Tuesday, June 16th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $554.38.

Insiders Place Their Bets

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares in the company, valued at approximately $1,520,936.48. The trade was a 15.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.