Hubbell Inc $HUBB Stock Position Increased by Ascent Group LLC

Key Points

• Ascent Group LLC increased its holdings in Hubbell Inc by 113.2%, owning 1,465 shares valued at $485,000 as of its latest SEC filing.
• Multiple major investors have recently invested in Hubbell, with institutional and hedge funds now owning 88.16% of the company’s stock.
• Hubbell recently announced a quarterly dividend of $1.32 per share, resulting in a 1.2% yield based on an annualized dividend of $5.28.

Ascent Group LLC grew its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 113.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,465 shares of the industrial products company's stock after acquiring an additional 778 shares during the quarter. Ascent Group LLC's holdings in Hubbell were worth $485,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Nuveen LLC purchased a new stake in Hubbell during the 1st quarter worth about $213,283,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Hubbell by 181.6% during the 1st 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 purchasing an additional 628,886 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of 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 buying an additional 287,047 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Hubbell by 52,429.8% during the 1st quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock worth $636,200,000 after purchasing an additional 191,893 shares during the period. Finally, PointState Capital LP purchased a new stake in Hubbell in the 4th quarter valued at about $78,443,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Analysts Set New Price Targets

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

Hubbell Stock Down 3.0%

NYSE:HUBB traded down $13.51 during mid-day trading on Friday, hitting $437.42. The company had a trading volume of 729,280 shares, compared to its average volume of 399,971. The business has a fifty day simple moving average of $430.95 and a 200-day simple moving average of $388.44. The firm has a market capitalization of $23.24 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 2.52 and a beta of 0.99. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results 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. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations 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. Equities analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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