A. D. Beadell Investment Counsel Inc. Makes New Investment in Hubbell Inc $HUBB

Key Points

• A. D. Beadell Investment Counsel Inc. has made a new investment in Hubbell Inc, purchasing 660 shares valued at approximately $269,000.
• Hubbell has received multiple upgrades from analysts, with Wells Fargo raising its target price from $445 to $490 and maintaining an "overweight" rating.
• The company recently disclosed a quarterly dividend of $1.32 per share, indicating an annualized dividend yield of 1.3%.

A. D. Beadell Investment Counsel Inc. bought a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 660 shares of the industrial products company's stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in 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 acquiring an additional 7,142 shares in the last quarter. Invesco Ltd. lifted its holdings in 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 acquiring an additional 31,859 shares in the last quarter. Deutsche Bank AG lifted its holdings in Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after acquiring an additional 287,047 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Hubbell by 181.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company's stock worth $322,702,000 after acquiring an additional 628,886 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Hubbell in the 1st quarter worth $213,283,000. 88.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HUBB has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. 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 note on Friday, August 1st. Stephens reaffirmed an "overweight" rating and issued a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Finally, Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $472.63.

Hubbell Price Performance

Shares of NYSE HUBB opened at $420.01 on Friday. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 2.41 and a beta of 0.99. The business has a 50-day moving average of $433.77 and a 200-day moving average of $393.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35.

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 for the quarter, beating the consensus estimate of $4.36 by $0.57. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations 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. As a group, sell-side analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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. The ex-dividend date was Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.3%. Hubbell's dividend payout ratio (DPR) is presently 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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