Zurich Insurance Group Ltd FI Purchases Shares of 4,300 Hubbell Inc $HUBB

Key Points

• Zurich Insurance Group Ltd FI acquired 4,300 shares of Hubbell Inc, valued at approximately $1.42 million, during the first quarter.
• Hubbell reported $4.93 earnings per share for the last quarter, exceeding the consensus estimate of $4.36, with a revenue of $1.48 billion.
• The company announced a quarterly dividend of $1.32, with a dividend yield of 1.2%, set to be paid on September 15th.

Zurich Insurance Group Ltd FI bought a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,300 shares of the industrial products company's stock, valued at approximately $1,423,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tsfg LLC bought a new stake in Hubbell during the 1st quarter valued at $30,000. NBC Securities Inc. bought a new stake in Hubbell during the 1st quarter valued at $49,000. CX Institutional bought a new stake in Hubbell during the 1st quarter valued at $49,000. Groupe la Francaise bought a new stake in Hubbell during the 1st quarter valued at $57,000. Finally, Intact Investment Management Inc. bought a new stake in Hubbell during the 1st quarter valued at $66,000. Institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on HUBB. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Barclays upped their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Stephens reaffirmed an "overweight" rating and issued a $500.00 price target on shares of Hubbell in a report on Thursday. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $472.63.

Hubbell Price Performance

NYSE:HUBB traded down $13.51 during midday trading on Friday, hitting $437.42. The company had a trading volume of 729,280 shares, compared to its average volume of 399,971. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. The stock's fifty day moving average price is $430.95 and its 200-day moving average price is $388.37. The company has a market capitalization of $23.24 billion, a PE ratio of 28.40, a P/E/G ratio of 2.52 and a beta of 0.99. 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 - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $1.32 dividend. The ex-dividend date is Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's payout ratio is 34.29%.

Hubbell Company 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.