Caxton Associates LLP Purchases New Position in Hubbell Inc $HUBB

Key Points

• Caxton Associates LLP purchased 4,034 shares of Hubbell Inc valued at approximately $1.3 million, marking a significant investment in the company.
• Analysts have recently upgraded Hubbell's stock ratings, with Wells Fargo raising its price target from $445 to $490.
• Hubbell declared a quarterly dividend of $1.32 per share, reflecting an annualized dividend yield of 1.2%.

Caxton Associates LLP purchased a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,034 shares of the industrial products company's stock, valued at approximately $1,335,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tsfg LLC bought a new position in shares of Hubbell during the 1st quarter valued at $30,000. CX Institutional acquired a new position in Hubbell in the 1st quarter valued at $49,000. NBC Securities Inc. acquired a new position in Hubbell in the 1st quarter valued at $49,000. Groupe la Francaise acquired a new position in Hubbell in the 1st quarter valued at $57,000. Finally, Intact Investment Management Inc. acquired a new position in Hubbell in the 1st quarter valued at $66,000. Institutional investors own 88.16% of the company's stock.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. 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. 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. Finally, Stephens reiterated an "overweight" rating and issued a $500.00 target price on shares of Hubbell in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $472.63.

Hubbell Stock Performance

HUBB stock traded down $13.51 during trading on Friday, reaching $437.42. 729,280 shares of the stock were exchanged, compared to its average volume of 399,971. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The company has a market capitalization of $23.24 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.99. The stock has a 50 day simple moving average of $430.95 and a 200-day simple moving average of $388.37. 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 earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share 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 analyst estimates 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 anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid 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 yield of 1.2%. Hubbell's payout ratio 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.