Bahl & Gaynor Inc. Raises Stock Position in Hubbell Inc $HUBB

Key Points

• Bahl & Gaynor Inc. increased its stake in Hubbell Inc by 31.8%, acquiring an additional 50,188 shares to bring its total holdings to 208,098 shares, valued at approximately $68.86 million.
• Hubbell recently announced a quarterly dividend of $1.32 per share, resulting in an annualized dividend of $5.28 and a yield of 1.2%.
• The company reported earnings of $4.93 per share for the last quarter, exceeding analysts' expectations of $4.36, and has set its FY 2025 EPS guidance in the range of 17.650-18.15.

Bahl & Gaynor Inc. grew its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 31.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 208,098 shares of the industrial products company's stock after acquiring an additional 50,188 shares during the period. Bahl & Gaynor Inc. owned 0.39% of Hubbell worth $68,862,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its position in Hubbell by 391.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 102,970 shares of the industrial products company's stock worth $34,074,000 after acquiring an additional 82,027 shares during the period. Groupe la Francaise bought a new stake in shares of Hubbell during the 1st quarter valued at $57,000. AlphaQuest LLC bought a new stake in shares of Hubbell during the 1st quarter valued at $2,509,000. Norinchukin Bank The raised its position in shares of Hubbell by 12.8% during the 1st quarter. Norinchukin Bank The now owns 2,411 shares of the industrial products company's stock valued at $798,000 after purchasing an additional 274 shares during the period. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Hubbell during the 1st quarter valued at $399,000. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HUBB shares. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays raised their target price 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. JPMorgan Chase & Co. raised their target price 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. Finally, Wells Fargo & Company raised their target price on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of "Hold" and a consensus target price of $462.29.

Hubbell Price Performance

HUBB traded down $0.89 during trading on Thursday, hitting $445.17. 235,485 shares of the company traded hands, compared to its average volume of 621,384. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. The company has a market cap of $23.66 billion, a PE ratio of 28.91, a P/E/G ratio of 2.48 and a beta of 0.99. The stock's 50-day simple moving average is $423.45 and its two-hundred day simple moving average is $384.30. 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 issued 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 net margin of 14.76% and a return on equity of 27.63%. 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. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $1.32 dividend. 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 (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.