1,107 Shares in Hubbell Inc $HUBB Bought by Callan Family Office LLC

Key Points

• Callan Family Office LLC purchased 1,107 shares of Hubbell Inc, valued at approximately $452,000, indicating growing institutional interest in the company.
• Hubbell's stock has seen an upward adjustment in price targets, with analysts from Wells Fargo and Stephens lifting their price objectives to $490.00 and $500.00 respectively.
• The company reported a quarterly EPS of $4.93, surpassing expectations and projecting FY 2025 earnings guidance between $17.650 and $18.15.

Callan Family Office LLC bought a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,107 shares of the industrial products company's stock, valued at approximately $452,000.

Several other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Hubbell by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock worth $937,623,000 after purchasing an additional 7,142 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Hubbell by 2.1% during the first quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company's stock worth $503,757,000 after purchasing an additional 31,859 shares during the last quarter. Deutsche Bank AG increased its holdings in Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock valued at $365,353,000 after buying an additional 287,047 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Hubbell by 181.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company's stock valued at $322,702,000 after buying an additional 628,886 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Hubbell in the first quarter valued at $213,283,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $445.00 to $490.00 in a report on Tuesday, September 2nd. Stephens reaffirmed an "overweight" rating and issued a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Barclays lifted their price objective on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Hubbell from a "buy" rating to a "strong-buy" rating in a report on Saturday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $472.63.

Hubbell Stock Up 2.0%

Shares of NYSE HUBB opened at $426.97 on Wednesday. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The stock has a market cap of $22.69 billion, a PE ratio of 27.73, a P/E/G ratio of 2.34 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 has a 50-day moving average of $430.73 and a 200 day moving average of $400.73.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) 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 company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, sell-side analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Hubbell's dividend payout ratio is currently 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.

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