Voya Investment Management LLC Has $9.48 Million Position in Hubbell Inc $HUBB

Voya Investment Management LLC grew its position in Hubbell Inc (NYSE:HUBB) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,634 shares of the industrial products company’s stock after buying an additional 83 shares during the quarter. Voya Investment Management LLC owned 0.05% of Hubbell worth $9,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Horizon Investments LLC raised its position in shares of Hubbell by 5.0% in the 1st quarter. Horizon Investments LLC now owns 770 shares of the industrial products company’s stock valued at $255,000 after buying an additional 37 shares in the last quarter. Abundance Wealth Counselors raised its position in shares of Hubbell by 1.6% in the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company’s stock valued at $851,000 after buying an additional 41 shares in the last quarter. Vestcor Inc raised its position in shares of Hubbell by 2.4% in the 1st quarter. Vestcor Inc now owns 2,146 shares of the industrial products company’s stock valued at $710,000 after buying an additional 50 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Hubbell by 16.4% in the 1st quarter. Brooklyn Investment Group now owns 384 shares of the industrial products company’s stock valued at $127,000 after buying an additional 54 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Hubbell by 21.1% in the 1st quarter. UMB Bank n.a. now owns 322 shares of the industrial products company’s stock valued at $107,000 after buying an additional 56 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Down 0.7%

HUBB opened at $435.21 on Wednesday. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The firm has a market capitalization of $23.13 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.45 and a beta of 0.99. The company’s 50 day moving average price is $431.90 and its two-hundred day moving average price is $389.37.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Hubbell’s payout ratio is presently 34.29%.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several analyst reports. Stephens restated an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Barclays boosted their target price on shares of Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company upgraded shares of Hubbell from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $472.63.

About Hubbell

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.