Posted by admin on Aug 22nd, 2022 
Northwestern Mutual Wealth Management Co. reduced its position in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 14.7% during the 1st quarter, HoldingsChannel reports. The fund owned 2,428 shares of the industrial products company’s stock after selling 419 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Hubbell were worth $446,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of HUBB. Lazard Asset Management LLC purchased a new stake in shares of Hubbell during the 4th quarter worth about $28,000. Quent Capital LLC purchased a new stake in shares of Hubbell during the 4th quarter worth about $43,000. Covestor Ltd purchased a new stake in shares of Hubbell during the 4th quarter worth about $46,000. Parallel Advisors LLC lifted its stake in Hubbell by 150.0% in the 1st quarter. Parallel Advisors LLC now owns 305 shares of the industrial products company’s stock valued at $58,000 after buying an additional 183 shares in the last quarter. Finally, Guardian Wealth Management Inc. purchased a new position in Hubbell in the 4th quarter valued at about $69,000. 86.37% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $175.00 to $200.00 in a research note on Thursday, July 28th. Wells Fargo & Company raised their price target on shares of Hubbell to $196.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 5th. Finally, Morgan Stanley raised their price target on shares of Hubbell from $190.00 to $206.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 27th.
HUBB stock opened at $224.08 on Monday. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.28 and a beta of 1.17. The company has a current ratio of 2.03, a quick ratio of 1.31 and a debt-to-equity ratio of 0.63. Hubbell Incorporated has a 12 month low of $170.21 and a 12 month high of $225.60. The firm has a 50-day moving average of $195.88 and a two-hundred day moving average of $190.43.
Hubbell (NYSE:HUBB – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.40. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.20 billion. Hubbell had a net margin of 11.18% and a return on equity of 22.61%. Hubbell’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 EPS. As a group, analysts forecast that Hubbell Incorporated will post 9.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a $1.05 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $4.20 dividend on an annualized basis and a yield of 1.87%. Hubbell’s payout ratio is 43.34%.
In other news, insider Allan Connolly sold 5,259 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $221.48, for a total transaction of $1,164,763.32. Following the completion of the sale, the insider now owns 6,400 shares in the company, valued at approximately $1,417,472. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by insiders.
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Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.
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