Exchange Traded Concepts LLC Reduces Position in Hubbell Inc $HUBB

Key Points

• Exchange Traded Concepts LLC has reduced its stake in Hubbell Inc by 50.1% during the second quarter, now holding 7,312 shares valued at approximately $2.986 million.
• Hubbell recently reported earnings per share (EPS) of $4.93 for the last quarter, exceeding estimates, while announcing a quarterly dividend of $1.32 with an annual yield of 1.2%.
• Multiple analysts have increased their target prices for Hubbell, with Barclays and Wells Fargo raising their ratings, indicating a consensus target of $472.63 among investment analysts.

Exchange Traded Concepts LLC lowered its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 50.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,312 shares of the industrial products company's stock after selling 7,346 shares during the period. Exchange Traded Concepts LLC's holdings in Hubbell were worth $2,986,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Horizon Investments LLC increased its holdings in 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 purchasing an additional 37 shares in the last quarter. Abundance Wealth Counselors lifted its position in shares of Hubbell by 1.6% during the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock valued at $851,000 after acquiring an additional 41 shares during the period. Vestcor Inc boosted its stake in Hubbell by 2.4% during the first quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock worth $710,000 after acquiring an additional 50 shares in the last quarter. Brooklyn Investment Group grew its holdings in Hubbell by 16.4% in the first quarter. Brooklyn Investment Group now owns 384 shares of the industrial products company's stock worth $127,000 after purchasing an additional 54 shares during the period. Finally, UMB Bank n.a. grew its holdings in Hubbell by 21.1% in the first quarter. UMB Bank n.a. now owns 322 shares of the industrial products company's stock worth $107,000 after purchasing an additional 56 shares during the period. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Down 0.6%

Shares of HUBB stock traded down $2.65 during mid-day trading on Monday, reaching $438.79. The stock had a trading volume of 629,595 shares, compared to its average volume of 612,590. 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 $23.32 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 2.47 and a beta of 0.99. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average price is $432.99 and its two-hundred day moving average price is $391.46.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping the consensus estimate of $4.36 by $0.57. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HUBB shares. Stephens reaffirmed an "overweight" rating and set a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays increased their price target on 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 raised Hubbell from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $472.63.

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.