3,093 Shares in Hubbell Inc $HUBB Bought by Stableford Capital II LLC

Key Points

• Stableford Capital II LLC acquired 3,093 shares of Hubbell Inc, valued at approximately $1,369,000, marking a new investment in the company during the second quarter.
• Hubbell has seen notable rating upgrades, with analysts from JPMorgan Chase and Wells Fargo increasing their price targets, indicating positive market sentiment around the stock.
• The company reported an earnings per share of $4.93 for the last quarter, surpassing analysts' estimates and has set FY 2025 guidance at 17.650-18.15 EPS.

Stableford Capital II LLC purchased a new stake in Hubbell Inc (NYSE:HUBB - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,093 shares of the industrial products company's stock, valued at approximately $1,369,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. McKinley Carter Wealth Services Inc. boosted its position in shares of Hubbell by 16.7% in the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company's stock worth $8,098,000 after buying an additional 2,843 shares during the period. Belpointe Asset Management LLC acquired a new position in Hubbell during the 2nd quarter worth approximately $320,000. Venturi Wealth Management LLC purchased a new position in Hubbell in the 2nd quarter worth approximately $490,000. Teacher Retirement System of Texas boosted its holdings in Hubbell by 1,462.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock worth $2,596,000 after acquiring an additional 7,344 shares during the period. Finally, Private Trust Co. NA grew its position in Hubbell by 60.4% in the first quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock valued at $97,000 after acquiring an additional 110 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HUBB. JPMorgan Chase & Co. boosted their target price on shares of Hubbell from $417.00 to $458.00 and gave the stock a "neutral" rating in a research report on Wednesday. Wall Street Zen upgraded Hubbell from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Hubbell in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, Stephens reissued an "overweight" rating and issued a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $477.75.

Hubbell Stock Performance

Shares of Hubbell stock opened at $435.04 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. The firm's 50-day simple moving average is $430.96 and its 200-day simple moving average is $400.97. The firm has a market cap of $23.12 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping analysts' consensus estimates of $4.36 by $0.57. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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. Equities analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Hubbell's 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.

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Inc (NYSE:HUBB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.