HB Wealth Management LLC Raises Holdings in Hubbell Inc $HUBB

HB Wealth Management LLC boosted its position in Hubbell Inc (NYSE:HUBB) by 7.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,262 shares of the industrial products company’s stock after purchasing an additional 91 shares during the period. HB Wealth Management LLC’s holdings in Hubbell were worth $515,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HUBB. Nuveen LLC purchased a new position in Hubbell in the 1st quarter valued at approximately $213,283,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Hubbell by 181.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after purchasing an additional 628,886 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock worth $365,353,000 after purchasing an additional 287,047 shares during the last quarter. Parnassus Investments LLC acquired a new stake in shares of Hubbell during the first quarter worth $57,432,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Hubbell by 391.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 102,970 shares of the industrial products company’s stock worth $34,074,000 after purchasing an additional 82,027 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HUBB shares. Stephens reiterated an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Friday. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research note on Saturday, September 27th. Barclays boosted their price objective on Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company upgraded Hubbell from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus target price of $472.63.

Hubbell Trading Down 2.4%

Shares of NYSE HUBB opened at $413.15 on Friday. The stock has a market capitalization of $21.95 billion, a P/E ratio of 26.83, a PEG ratio of 2.31 and a beta of 0.96. The stock’s 50 day moving average price is $432.84 and its two-hundred day moving average price is $397.15. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30.

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

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.3%. Hubbell’s dividend payout ratio is 34.29%.

Hubbell 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.