Allianz Asset Management GmbH Sells 2,957 Shares of Hubbell Inc $HUBB

Allianz Asset Management GmbH decreased its stake in shares of Hubbell Inc (NYSE:HUBB) by 55.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,339 shares of the industrial products company’s stock after selling 2,957 shares during the quarter. Allianz Asset Management GmbH’s holdings in Hubbell were worth $955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. JGP Wealth Management LLC boosted its position in shares of Hubbell by 2.3% during the second quarter. JGP Wealth Management LLC now owns 2,227 shares of the industrial products company’s stock worth $910,000 after acquiring an additional 50 shares during the last quarter. Boston Trust Walden Corp boosted its position in shares of Hubbell by 22.5% during the second quarter. Boston Trust Walden Corp now owns 368,660 shares of the industrial products company’s stock worth $150,565,000 after acquiring an additional 67,686 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Hubbell by 5.8% during the second quarter. TD Asset Management Inc now owns 23,438 shares of the industrial products company’s stock worth $9,572,000 after acquiring an additional 1,287 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Hubbell by 8.0% during the second quarter. Atria Wealth Solutions Inc. now owns 1,926 shares of the industrial products company’s stock worth $787,000 after acquiring an additional 142 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Hubbell by 109.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,286 shares of the industrial products company’s stock worth $934,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on HUBB. Mizuho upped their price target on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Stephens reaffirmed an “overweight” rating and set a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Wells Fargo & Company raised shares of Hubbell from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, Wall Street Zen downgraded shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Five 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 has a consensus rating of “Moderate Buy” and a consensus target price of $476.50.

Hubbell Trading Up 0.4%

Shares of HUBB opened at $435.02 on Monday. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The company has a market cap of $23.12 billion, a P/E ratio of 28.25, a P/E/G ratio of 2.42 and a beta of 0.96. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $431.29 and its 200-day simple moving average is $407.04.

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

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.