Financiere des Professionnels Fonds d investissement inc. Boosts Stake in Hubbell Inc $HUBB

Key Points

• Financiere des Professionnels Fonds d'investissement inc. increased its stake in Hubbell Inc by 22.1%, holding 23,389 shares valued at approximately $9.55 million as of the end of the most recent quarter.
• Analysts have raised their price targets for Hubbell, with Barclays setting a new target of $431, and Wells Fargo and Stephens projecting targets of $490 and $500, respectively.
• Hubbell reported earnings of $4.93 per share, surpassing analysts' estimates, and announced a quarterly dividend of $1.32 per share, yielding 1.2% annually.

Financiere des Professionnels Fonds d investissement inc. grew its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 22.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,389 shares of the industrial products company's stock after purchasing an additional 4,227 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in Hubbell were worth $9,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in shares of Hubbell by 0.3% during the 1st 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 purchasing an additional 7,142 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Hubbell by 2.1% during the 1st quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company's stock valued at $503,757,000 after purchasing an additional 31,859 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Hubbell by 35.1% during the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock valued at $365,353,000 after purchasing an additional 287,047 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Hubbell by 181.6% during the 1st 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 purchasing an additional 628,886 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Hubbell during the 1st quarter valued at $213,283,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analysts Set New Price Targets

HUBB has been the subject of several analyst reports. Barclays increased their price objective on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $445.00 to $490.00 in a report on Tuesday, September 2nd. Stephens restated an "overweight" rating and issued a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Finally, Wall Street Zen upgraded 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 issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $472.63.

Hubbell Stock Performance

NYSE HUBB opened at $435.21 on Wednesday. The stock has a 50-day simple moving average of $431.90 and a two-hundred day simple moving average of $389.37. The firm has a market capitalization of $23.13 billion, a P/E ratio of 28.26, a PEG ratio of 2.45 and a beta of 0.99. 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.

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, beating analysts' consensus estimates of $4.36 by $0.57. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates 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. On average, equities analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid 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 dividend yield of 1.2%. Hubbell's dividend payout ratio (DPR) is presently 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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