Sequoia Financial Advisors LLC Sells 5,350 Shares of Hubbell Inc $HUBB

by · The Cerbat Gem

Sequoia Financial Advisors LLC cut its holdings in Hubbell Inc (NYSE:HUBB – Free Report) by 14.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,076 shares of the industrial products company’s stock after selling 5,350 shares during the period. Sequoia Financial Advisors LLC’s holdings in Hubbell were worth $13,372,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its position in shares of Hubbell by 171.9% in the first quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company’s stock worth $795,000 after buying an additional 1,518 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Hubbell by 18.9% during the 1st quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company’s stock valued at $408,000 after acquiring an additional 196 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Hubbell by 271.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 155 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Hubbell in the 1st quarter worth approximately $599,000. Finally, Parallel Advisors LLC lifted its holdings in Hubbell by 37.0% in the 2nd quarter. Parallel Advisors LLC now owns 667 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 180 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John F. Malloy purchased 435 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased 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 approximately $8,192,045.40. This trade represents a 2.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the sale, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Performance

NYSE HUBB opened at $489.92 on Monday. The company’s fifty day moving average is $446.57 and its two-hundred day moving average is $437.73. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $497.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85. The firm has a market capitalization of $26.04 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 2.48 and a beta of 1.02.

Hubbell (NYSE:HUBB – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the business earned $4.49 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Equities research analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, November 28th. This is a boost from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is 35.24%.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Mizuho raised their target price on shares of Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Wall Street Zen downgraded shares of Hubbell from a “strong-buy” rating to a “buy” rating in a report on Monday, December 29th. UBS Group restated a “neutral” rating and set a $450.00 price target on shares of Hubbell in a report on Friday, December 12th. Finally, Morgan Stanley set a $515.00 price objective on Hubbell in a research note on Wednesday, January 7th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $497.25.

Read Our Latest Research Report on Hubbell

Hubbell Profile

(Free Report)

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.

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