Hubbell Inc $HUBB Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership cut its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,930 shares of the industrial products company's stock after selling 74,408 shares during the period. Artisan Partners Limited Partnership owned about 0.44% of Hubbell worth $95,948,000 as of its most recent SEC filing.

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Several other hedge funds have also made changes to their positions in HUBB. McKinley Carter Wealth Services Inc. grew its stake in shares of Hubbell by 16.7% in the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company's stock worth $8,098,000 after acquiring an additional 2,843 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Hubbell in the second quarter valued at $320,000. Venturi Wealth Management LLC purchased a new position in Hubbell in the second quarter valued at $490,000. Zurich Insurance Group Ltd FI acquired a new position in Hubbell during the 1st quarter worth $1,423,000. Finally, Beacon Financial Group purchased a new stake in Hubbell during the 2nd quarter worth about $262,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Price Performance

Shares of HUBB opened at $407.13 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.76. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $484.26. The stock has a market cap of $21.64 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. The firm has a fifty day moving average price of $435.76 and a 200 day moving average price of $419.80.

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Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company posted $4.49 earnings per share. The business's quarterly revenue was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.4%. This is a positive change from Hubbell's previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Friday, November 28th. Hubbell's dividend payout ratio is presently 35.24%.

Analysts Set New Price Targets

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Several equities analysts have recently issued reports on HUBB shares. Wells Fargo & Company lifted their price objective on Hubbell from $490.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, October 29th. Mizuho raised their target price on shares of Hubbell from $475.00 to $480.00 and gave the company an "outperform" rating in a report on Friday, October 17th. Stephens reiterated an "overweight" rating and set a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Barclays increased their price objective on shares of Hubbell from $431.00 to $456.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $417.00 to $458.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 15th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $473.86.

View Our Latest Report on Hubbell

Insider Buying and Selling at Hubbell

In other Hubbell news, Director John F. Malloy bought 435 shares of the business's stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $429.24 per share, with a total value of $186,719.40. Following the acquisition, the director directly owned 19,085 shares of the company's stock, valued at $8,192,045.40. The trade was a 2.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the company's stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the sale, the insider owned 4,785 shares of the company's stock, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by company insiders.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.

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