Banco Bilbao Vizcaya Argentaria S.A. Boosts Stock Position in Hubbell Inc $HUBB

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Hubbell Inc by 49.3% during Q1, owning 4,554 shares valued at approximately $1.49 million.
• Several large investors made significant investments in Hubbell, with Nuveen LLC acquiring approximately $213.3 million in new positions, indicating strong institutional interest in the company.
• Hubbell's earnings report showed a net margin of 14.76% with Q2 earnings per share at $4.93, exceeding expectations and demonstrating robust financial performance.

Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 49.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,554 shares of the industrial products company's stock after purchasing an additional 1,503 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Hubbell were worth $1,490,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in Hubbell by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock valued at $937,623,000 after purchasing an additional 7,142 shares during the period. Invesco Ltd. grew its stake in shares of Hubbell by 2.1% in the first quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company's stock valued at $503,757,000 after buying an additional 31,859 shares in the last quarter. Deutsche Bank AG grew its position in Hubbell by 35.1% in 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 acquiring an additional 287,047 shares in the last quarter. Nuveen LLC acquired a new position in Hubbell in the 1st quarter valued at about $213,283,000. Finally, Northern Trust Corp grew its position in Hubbell by 2.9% in the 1st quarter. Northern Trust Corp now owns 532,977 shares of the industrial products company's stock valued at $176,367,000 after acquiring an additional 14,866 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Up 0.1%

Shares of NYSE:HUBB traded up $0.60 on Thursday, hitting $446.66. 104,195 shares of the company's stock were exchanged, compared to its average volume of 620,595. The company has a market capitalization of $23.74 billion, a PE ratio of 29.02, a P/E/G ratio of 2.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The firm's 50-day moving average is $423.45 and its 200 day moving average is $384.30.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.36 by $0.57. The firm 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. Sell-side analysts predict that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $1.32 dividend. 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 dividend payout ratio is 34.29%.

Analyst Ratings Changes

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

About Hubbell

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.