Empirical Asset Management LLC Invests $576,000 in Hubbell Inc $HUBB

Key Points

• Empirical Asset Management LLC acquired a new stake in Hubbell Inc (NYSE:HUBB) worth approximately $576,000, purchasing 1,410 shares in the second quarter.
• Major brokerages have recently upgraded their ratings on Hubbell, with Wall Street Zen raising its rating to "strong-buy" and price objectives being upped by firms like Mizuho and Wells Fargo.
• Hubbell announced a quarterly dividend of $1.32 per share, reflecting an annual yield of 1.2%, indicating a healthy return to investors.

Empirical Asset Management LLC bought a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,410 shares of the industrial products company's stock, valued at approximately $576,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. DB Fitzpatrick & Co Inc lifted its position in Hubbell by 0.6% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company's stock valued at $1,776,000 after purchasing an additional 26 shares during the period. Chicago Capital LLC lifted its position in Hubbell by 0.5% during the second quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company's stock valued at $2,504,000 after purchasing an additional 29 shares during the period. Greenleaf Trust lifted its position in Hubbell by 4.0% during the second quarter. Greenleaf Trust now owns 801 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 31 shares during the period. Capital Investment Advisors LLC lifted its position in Hubbell by 4.3% during the second quarter. Capital Investment Advisors LLC now owns 866 shares of the industrial products company's stock valued at $354,000 after purchasing an additional 36 shares during the period. Finally, Horizon Investments LLC lifted its position in Hubbell by 5.0% during the first quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock valued at $255,000 after purchasing an additional 37 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on HUBB. Wall Street Zen upgraded shares of Hubbell from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Mizuho upped their price objective on shares of Hubbell from $475.00 to $480.00 and gave the stock an "outperform" rating in a research report on Friday. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Hubbell in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $417.00 to $458.00 and gave the stock a "neutral" rating in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Hubbell currently has a consensus rating of "Moderate Buy" and an average target price of $476.50.

Hubbell Stock Performance

Hubbell stock opened at $426.44 on Friday. The firm has a 50 day simple moving average of $431.33 and a 200-day simple moving average of $402.29. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. 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 stock has a market cap of $22.66 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96.

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 the consensus estimate 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 analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. On average, analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. Hubbell's dividend payout ratio is 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.

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