AlphaQuest LLC Makes New Investment in Hubbell Inc $HUBB

Key Points

• AlphaQuest LLC purchased 7,581 shares of Hubbell Inc for approximately $2.5 million, reflecting increased institutional interest in the company.
• Multiple analysts raised their price targets for Hubbell, with Wells Fargo increasing it from $420 to $445, indicating positive sentiment about the stock's future performance.
• Hubbell recently announced a quarterly dividend of $1.32 per share, resulting in a dividend yield of 1.2% and a payout ratio of 34.29%.

AlphaQuest LLC purchased a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,581 shares of the industrial products company's stock, valued at approximately $2,509,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Nuveen LLC acquired a new stake in Hubbell during the 1st quarter valued at $213,283,000. Deutsche Bank AG increased its holdings in Hubbell by 35.1% during the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock valued at $365,353,000 after purchasing an additional 287,047 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in Hubbell during the 4th quarter valued at $95,868,000. GAMMA Investing LLC increased its holdings in Hubbell by 52,429.8% during the 1st quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after purchasing an additional 191,893 shares in the last quarter. Finally, PointState Capital LP acquired a new stake in Hubbell during the 4th quarter valued at $78,443,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Up 1.2%

Shares of Hubbell stock traded up $5.07 during trading on Tuesday, reaching $442.63. 546,794 shares of the company were exchanged, compared to its average volume of 625,605. 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 twelve month low of $299.42 and a twelve month high of $481.35. The business has a 50-day moving average price of $421.46 and a 200-day moving average price of $383.46. The firm has a market capitalization of $23.52 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.47 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data 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. Hubbell had a return on equity of 27.63% and a net margin of 14.76%.The business 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. Sell-side analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

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

Analysts Set New Price Targets

HUBB has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Barclays raised their price target on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. increased their price objective on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Hubbell has an average rating of "Hold" and an average price target of $462.29.

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.