Caisse DE Depot ET Placement DU Quebec Acquires 15,986 Shares of Hubbell Inc $HUBB

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Hubbell Inc by 110.0%, owning approximately $10.1 million worth of shares after acquiring an additional 15,986 shares in Q1.
• Hubbell's stock has received positive attention from analysts, with Barclays and Wells Fargo raising their target prices to $431 and $445 respectively, indicating a growing confidence in the company's performance.
• The company recently declared a quarterly dividend of $1.32 per share, with an expected annualized yield of 1.2%, reflecting a moderate payout ratio of 34.29%.

Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 110.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,517 shares of the industrial products company's stock after acquiring an additional 15,986 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.06% of Hubbell worth $10,098,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV increased its stake in shares of Hubbell by 0.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after buying an additional 26 shares during the period. Horizon Investments LLC increased its stake in shares of Hubbell by 5.0% in the first quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock worth $255,000 after buying an additional 37 shares during the period. Abundance Wealth Counselors increased its stake in shares of Hubbell by 1.6% in the first quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock worth $851,000 after buying an additional 41 shares during the period. Utah Retirement Systems increased its stake in shares of Hubbell by 0.5% in the fourth quarter. Utah Retirement Systems now owns 8,857 shares of the industrial products company's stock worth $3,710,000 after buying an additional 48 shares during the period. Finally, Vestcor Inc increased its stake in shares of Hubbell by 2.4% in the first quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock worth $710,000 after buying an additional 50 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several analyst reports. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research 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 report on Friday, August 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $462.29.

Hubbell Trading Down 3.3%

Hubbell stock traded down $14.62 during mid-day trading on Monday, reaching $431.18. 579,237 shares of the company traded hands, compared to its average volume of 440,913. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. The firm has a market capitalization of $22.91 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.41 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The firm's 50 day moving average price is $425.11 and its 200 day moving average price is $384.76.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating 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 firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. On average, analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 is Friday, August 29th. Hubbell's 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.