AQR Capital Management LLC Cuts Stock Holdings in Hubbell Inc $HUBB

Key Points

• AQR Capital Management LLC sold 1,984 shares of Hubbell Inc, reducing its holdings by 10.8% to a total of 16,401 shares worth approximately $5.28 million.
• Hubbell has received several upgrades from analysts, with JPMorgan raising its target price to $417.00 and Wells Fargo to $490.00, reflecting positive sentiment around the stock.
• The company announced a quarterly dividend of $1.32 per share, with a 1.2% yield, scheduled to be paid on September 15th.

AQR Capital Management LLC cut its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,401 shares of the industrial products company's stock after selling 1,984 shares during the quarter. AQR Capital Management LLC's holdings in Hubbell were worth $5,282,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas increased its stake in shares of Hubbell by 1,462.9% during the first 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. Private Trust Co. NA increased its stake in shares of Hubbell by 60.4% during the first quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock worth $97,000 after acquiring an additional 110 shares during the period. Stratos Wealth Partners LTD. increased its stake in shares of Hubbell by 29.6% during the first quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company's stock worth $522,000 after acquiring an additional 360 shares during the period. CX Institutional acquired a new position in shares of Hubbell during the first quarter worth about $49,000. Finally, GAMMA Investing LLC increased its stake in shares of Hubbell by 58.7% during the first quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock worth $192,000 after acquiring an additional 215 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Down 0.7%

Shares of HUBB traded down $2.90 on Tuesday, hitting $435.21. 457,195 shares of the stock traded hands, compared to its average volume of 614,030. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $23.13 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.45 and a beta of 0.99. The stock's 50 day moving average is $431.45 and its two-hundred day moving average is $389.05. Hubbell Inc has a 1 year low of $299.42 and a 1 year 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 (EPS) for the quarter, beating the consensus estimate of $4.36 by $0.57. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. 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 year.

Hubbell Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company upgraded 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 report on Tuesday, September 2nd. Stephens restated an "overweight" rating and set a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Finally, 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. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $472.63.

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.