929 Shares in Hubbell Inc $HUBB Bought by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC purchased 929 shares of Hubbell Inc, valued at approximately $307,000, as part of their new position in the company.
• Hubbell recently reported earnings of $4.93 per share, exceeding analyst expectations, while also announcing a quarterly dividend of $1.32 per share.
• Analysts have increased their price targets for Hubbell, with Barclays raising it to $431 and Wells Fargo increasing it to $490, reflecting a generally positive outlook for the stock.

MBB Public Markets I LLC bought a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 929 shares of the industrial products company's stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV boosted its position in shares of Hubbell by 0.4% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after acquiring an additional 26 shares during the last quarter. Horizon Investments LLC boosted its position in shares of Hubbell by 5.0% during the first quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock worth $255,000 after acquiring an additional 37 shares during the last quarter. Abundance Wealth Counselors boosted its position in shares of Hubbell by 1.6% during the first quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock worth $851,000 after acquiring an additional 41 shares during the last quarter. Vestcor Inc boosted its position in shares of Hubbell by 2.4% during the first quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock worth $710,000 after acquiring an additional 50 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Hubbell by 16.4% during the first quarter. Brooklyn Investment Group now owns 384 shares of the industrial products company's stock worth $127,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 88.16% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HUBB. Barclays upped their target price on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, 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. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $468.71.

Hubbell Price Performance

Hubbell stock opened at $442.59 on Thursday. The company has a market cap of $23.52 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.45 and a beta of 0.99. The firm's fifty day moving average is $429.76 and its 200 day moving average is $387.35. 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 Inc has a 52-week low of $299.42 and a 52-week high of $481.35.

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 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. Sell-side analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. 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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