Envestnet Portfolio Solutions Inc. Increases Position in Hubbell Inc $HUBB

Key Points

• Envestnet Portfolio Solutions Inc. increased its position in Hubbell Inc by 109.9% in Q2, acquiring an additional 1,197 shares, bringing its total holdings to 2,286 shares valued at approximately $934,000.
• Hubbell's stock received positive ratings from several analysts, with price targets ranging from $458.00 to $500.00, reinforcing a consensus rating of "Moderate Buy".
• The company recently announced a quarterly dividend of $1.32 per share, resulting in an annualized yield of 1.2% and contributing to a dividend payout ratio of 34.29%.

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 109.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,286 shares of the industrial products company's stock after acquiring an additional 1,197 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Hubbell were worth $934,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HUBB. GAMMA Investing LLC grew its stake in Hubbell by 58.7% during the 1st quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock valued at $192,000 after acquiring an additional 215 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Hubbell by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,498 shares of the industrial products company's stock valued at $1,820,000 after buying an additional 198 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Hubbell by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 6,286 shares of the industrial products company's stock valued at $2,080,000 after buying an additional 165 shares during the period. Blue Trust Inc. grew its stake in shares of Hubbell by 43.6% in the 1st quarter. Blue Trust Inc. now owns 382 shares of the industrial products company's stock valued at $126,000 after buying an additional 116 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in shares of Hubbell in the 1st quarter valued at approximately $66,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HUBB. Stephens reissued an "overweight" rating and issued a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Mizuho increased their price target on shares of Hubbell from $475.00 to $480.00 and gave the company an "outperform" rating in a research note on Friday. Wall Street Zen raised shares of Hubbell from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Finally, JPMorgan Chase & Co. increased 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, October 15th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Hubbell presently has a consensus rating of "Moderate Buy" and an average price target of $476.50.

Hubbell Stock Performance

NYSE:HUBB opened at $426.44 on Monday. The stock has a market capitalization of $22.66 billion, a P/E ratio of 27.69, a PEG ratio of 2.38 and a beta of 0.96. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. 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 50 day moving average price of $431.33 and a 200 day moving average price of $403.28.

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

Hubbell Dividend Announcement

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 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.

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