Glenview Trust co Has $3.96 Million Stock Holdings in Hubbell Inc $HUBB

Key Points

• Glenview Trust Co. increased its holdings in Hubbell Inc by 6.8%, bringing its total investment to approximately $3.96 million.
• Analysts have recently raised their target prices for Hubbell, with JPMorgan setting a new target at $417.00 and suggesting a "neutral" rating.
• Hubbell Inc. announced a quarterly dividend of $1.32 per share, with an annualized yield of 1.2%.

Glenview Trust co increased its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,971 shares of the industrial products company's stock after acquiring an additional 767 shares during the period. Glenview Trust co's holdings in Hubbell were worth $3,961,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in Hubbell by 1,462.9% in the first quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock valued at $2,596,000 after buying an additional 7,344 shares in the last quarter. Private Trust Co. NA raised its position in Hubbell by 60.4% in the first quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 110 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Hubbell by 29.6% in the first quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company's stock valued at $522,000 after purchasing an additional 360 shares during the last quarter. CX Institutional bought a new position in Hubbell in the first quarter valued at about $49,000. Finally, GAMMA Investing LLC raised its position in Hubbell by 58.7% in the first quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock valued at $192,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised shares of 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 note on Tuesday, September 2nd. Finally, Barclays boosted their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Three investment 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 an average rating of "Hold" and an average target price of $468.71.

Hubbell Price Performance

HUBB stock opened at $442.59 on Thursday. The firm has a market cap of $23.52 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.45 and a beta of 0.99. 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 Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The company's fifty day simple moving average is $429.76 and its 200 day simple moving average is $387.35.

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, beating the consensus estimate of $4.36 by $0.57. The business 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. On average, analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's dividend payout ratio (DPR) is currently 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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