Fort Washington Investment Advisors Inc. OH Raises Stock Position in Hubbell Inc $HUBB

Key Points

• Fort Washington Investment Advisors Inc. increased its holdings in Hubbell Inc by 0.3% during Q2, owning approximately 0.33% of the company worth $72.87 million.
• Wall Street analysts have a generally positive outlook on Hubbell, with average ratings indicating a "Moderate Buy" and a consensus target price of $472.63.
• Hubbell announced a quarterly dividend of $1.32 per share, corresponding to an annualized yield of 1.2%, with a payout ratio of 34.29%.

Fort Washington Investment Advisors Inc. OH grew its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,420 shares of the industrial products company's stock after acquiring an additional 602 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.33% of Hubbell worth $72,869,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in shares of Hubbell in the 2nd quarter valued at $29,000. Tsfg LLC acquired a new stake in Hubbell during the 1st quarter valued at $30,000. NBC Securities Inc. acquired a new stake in Hubbell during the 1st quarter valued at $49,000. CX Institutional acquired a new stake in Hubbell during the 1st quarter valued at $49,000. Finally, Ransom Advisory Ltd acquired a new stake in Hubbell during the 1st quarter valued at $53,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HUBB. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $445.00 to $490.00 in a report on Tuesday, September 2nd. Stephens reissued an "overweight" rating and set a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Barclays raised their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $472.63.

Hubbell Trading Up 1.2%

Hubbell stock opened at $425.45 on Friday. 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 $22.61 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.38 and a beta of 0.99. The firm has a 50-day moving average price of $433.67 and a two-hundred day moving average price of $394.16. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30.

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

Hubbell Announces Dividend

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