PNC Financial Services Group Inc. Reduces Stock Position in Hubbell Inc $HUBB

PNC Financial Services Group Inc. decreased its position in shares of Hubbell Inc (NYSE:HUBB) by 0.3% in the first quarter, HoldingsChannel reports. The firm owned 316,978 shares of the industrial products company’s stock after selling 1,061 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hubbell were worth $155,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. BSW Wealth Partners increased its holdings in Hubbell by 2.9% in the fourth quarter. BSW Wealth Partners now owns 769 shares of the industrial products company’s stock valued at $341,000 after buying an additional 22 shares in the last quarter. Ballentine Partners LLC grew its holdings in Hubbell by 1.9% in the fourth quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company’s stock valued at $572,000 after purchasing an additional 24 shares during the period. Benjamin Edwards Inc. increased its position in shares of Hubbell by 2.0% in the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after buying an additional 24 shares in the last quarter. Quest Investment Management LLC increased its position in shares of Hubbell by 1.3% in the third quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock valued at $816,000 after buying an additional 25 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of Hubbell by 62.8% during the 4th quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company’s stock worth $31,000 after buying an additional 27 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of recent analyst reports. Weiss Ratings lowered Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Stephens upped their price objective on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. UBS Group reaffirmed a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a report on Tuesday, June 16th. Wells Fargo & Company lifted their target price on shares of Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $554.38.

Hubbell Stock Down 0.6%

Shares of NYSE HUBB opened at $476.99 on Thursday. The stock has a market cap of $25.20 billion, a PE ratio of 28.17, a P/E/G ratio of 2.40 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 0.54. Hubbell Inc has a 12-month low of $403.82 and a 12-month high of $565.50. The company has a 50-day moving average of $488.04 and a 200 day moving average of $496.48.

Hubbell (NYSE:HUBB) last released its earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.06. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $3.50 EPS. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. As a group, sell-side analysts predict that Hubbell Inc will post 19.97 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $1.42 per share. The ex-dividend date was Friday, May 29th. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is presently 33.55%.

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.