Glenview Trust Co Acquires Shares of 13,010 Hubbell Inc $HUBB

Glenview Trust Co bought a new position in shares of Hubbell Inc (NYSE:HUBB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,010 shares of the industrial products company’s stock, valued at approximately $6,807,000.

Other institutional investors also recently modified their holdings of the company. DNB Asset Management AS raised its stake in shares of Hubbell by 4.9% during the 4th quarter. DNB Asset Management AS now owns 38,865 shares of the industrial products company’s stock worth $17,260,000 after purchasing an additional 1,832 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Hubbell during the second quarter valued at about $7,648,000. Swedbank AB grew its position in Hubbell by 19.2% during the first quarter. Swedbank AB now owns 32,380 shares of the industrial products company’s stock valued at $15,890,000 after buying an additional 5,218 shares during the period. Principal Financial Group Inc. increased its holdings in Hubbell by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 205,775 shares of the industrial products company’s stock worth $91,396,000 after buying an additional 7,100 shares during the last quarter. Finally, Vest Financial LLC bought a new stake in Hubbell in the fourth quarter worth about $1,589,000. 88.16% of the stock is owned by institutional investors.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $470.29 on Friday. The firm has a market capitalization of $24.85 billion, a PE ratio of 27.84, a P/E/G ratio of 2.31 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. The company has a 50-day moving average price of $492.88 and a two-hundred day moving average price of $497.69. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50.

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

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued 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 payout ratio is presently 33.63%.

Insider Activity

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total transaction of $283,652.32. Following the sale, the vice president owned 2,933 shares in the company, valued at $1,520,936.48. This 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 corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on HUBB shares. UBS Group reiterated a “neutral” rating and issued a $515.00 target price on shares of Hubbell in a research note on Tuesday, June 16th. Robert W. Baird began coverage on Hubbell in a research note on Thursday, August 20th. They issued an “outperform” rating and a $550.00 price objective on the stock. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Wells Fargo & Company increased their price objective on Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Stephens raised their target price on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. 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 stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and an average target price 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.