Douglas Lane & Associates LLC Sells 1,700 Shares of Hubbell Inc $HUBB

Key Points

• Douglas Lane & Associates LLC has significantly reduced its stake in Hubbell Inc by 63.2%, now holding only 990 shares worth $404,000 after selling 1,700 shares in the second quarter.
• Hubbell reported a quarterly EPS of $4.93, exceeding analysts' expectations, and has set its FY 2025 EPS guidance in the range of 17.650-18.15.
• The company declared a quarterly dividend of $1.32 per share, resulting in an annualized yield of 1.2%, with a payout ratio of 34.29%.

Douglas Lane & Associates LLC trimmed its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 63.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 990 shares of the industrial products company's stock after selling 1,700 shares during the period. Douglas Lane & Associates LLC's holdings in Hubbell were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in Hubbell by 0.3% during 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 buying an additional 7,142 shares during the period. Invesco Ltd. grew its position in Hubbell by 2.1% during 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 during the period. Deutsche Bank AG grew its position in Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock valued at $365,353,000 after buying an additional 287,047 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Hubbell by 181.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company's stock valued at $322,702,000 after buying an additional 628,886 shares during the period. Finally, Nuveen LLC bought a new stake in Hubbell during the first quarter valued at approximately $213,283,000. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HUBB. Stephens restated an "overweight" rating and set a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Barclays boosted their target price 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. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of "Moderate Buy" and an average price target of $472.63.

Hubbell Price Performance

Shares of NYSE HUBB traded down $2.56 during midday trading on Friday, reaching $437.55. The stock had a trading volume of 86,753 shares, compared to its average volume of 608,861. The stock has a 50-day moving average of $432.55 and a 200-day moving average of $390.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted 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 company had revenue of $1.48 billion during 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. As a group, research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Hubbell's dividend payout ratio (DPR) is presently 34.29%.

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.