Graham Capital Management L.P. Raises Stock Holdings in Hubbell Inc $HUBB

Key Points

• Graham Capital Management L.P. increased its stake in Hubbell Inc by 279.5% during the first quarter, acquiring an additional 3,633 shares, bringing its total holdings to 4,933 shares.
• Hubbell's most recent earnings report showed an EPS of $4.93, surpassing expectations, while revenue reached $1.48 billion, slightly below predictions.
• The company announced a quarterly dividend of $1.32 per share, with an annualized dividend yield of 1.2%, scheduled for payment on September 15th.

Graham Capital Management L.P. raised its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 279.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,933 shares of the industrial products company's stock after purchasing an additional 3,633 shares during the period. Graham Capital Management L.P.'s holdings in Hubbell were worth $1,632,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lido Advisors LLC bought a new position in shares of Hubbell during the 4th quarter worth about $210,000. Aptus Capital Advisors LLC bought a new position in Hubbell during the 4th quarter worth approximately $496,000. Ameriprise Financial Inc. lifted its stake in Hubbell by 80.1% in the fourth quarter. Ameriprise Financial Inc. now owns 336,308 shares of the industrial products company's stock valued at $140,876,000 after buying an additional 149,622 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Hubbell by 56.1% in the fourth quarter. BNP Paribas Financial Markets now owns 101,293 shares of the industrial products company's stock valued at $42,431,000 after buying an additional 36,396 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Hubbell by 64.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,442 shares of the industrial products company's stock valued at $604,000 after purchasing an additional 563 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HUBB shares. Barclays boosted their target price 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. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Hubbell currently has an average rating of "Hold" and a consensus price target of $468.71.

Hubbell Trading Down 0.2%

Shares of HUBB stock traded down $1.07 during trading hours on Friday, hitting $436.09. 395,847 shares of the company were exchanged, compared to its average volume of 396,219. The firm has a market cap of $23.17 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.44 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. The company has a 50 day simple moving average of $428.16 and a two-hundred day simple moving average of $386.22.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly 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. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Equities analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid 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 is Friday, August 29th. Hubbell's payout ratio is presently 34.29%.

About Hubbell

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.