Daiichi Life Insurance Co. Ltd. Purchases Shares of 2,194 Hubbell Inc $HUBB

Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of Hubbell Inc (NYSE:HUBB) during the 2nd quarter, HoldingsChannel reports. The fund purchased 2,194 shares of the industrial products company’s stock, valued at approximately $1,148,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commerce Bank acquired a new stake in shares of Hubbell in the second quarter valued at $13,461,000. Northwestern Mutual Wealth Management Co. bought a new position in Hubbell during the second quarter valued at about $43,300,000. Evolve Private Wealth LLC acquired a new position in Hubbell during the second quarter worth about $611,000. Farringdon Capital Ltd. acquired a new position in Hubbell during the second quarter worth about $357,000. Finally, Korea Investment CORP bought a new stake in Hubbell in the second quarter worth about $37,431,000. Institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the transaction, the vice president directly owned 2,933 shares of the company’s stock, valued at $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.63% of the stock is currently owned by insiders.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $466.72 on Tuesday. The stock’s fifty day simple moving average is $495.45 and its 200 day simple moving average is $498.18. The stock has a market capitalization of $24.66 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.30 and a beta of 0.90. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.39 by $0.13. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business posted $4.93 earnings per share. Hubbell’s revenue was up 15.3% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, sell-side analysts forecast that Hubbell Inc will post 20.41 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HUBB shares. Weiss Ratings downgraded shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Wells Fargo & Company lifted their price objective 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. Robert W. Baird initiated coverage on shares of Hubbell in a report on Thursday. They issued an “outperform” rating and a $550.00 target price on the stock. Barclays increased their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and an average price target of $553.89.

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.