Hubbell Inc $HUBB Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its holdings in Hubbell Inc by 14.9%, owning 114,547 shares worth approximately $37.7 million as of its latest SEC filing.
• Hubbell's stock has received positive outlooks from analysts, with several raising target prices and recommending a "buy" rating, suggesting growth potential amid ongoing electrification.
• The company declared a quarterly dividend of $1.32, which reflects an annualized yield of 1.2%, further indicating strong financial performance.

Hsbc Holdings PLC increased its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 14.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,547 shares of the industrial products company's stock after buying an additional 14,877 shares during the period. Hsbc Holdings PLC owned about 0.21% of Hubbell worth $37,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tsfg LLC purchased a new position in Hubbell in the 1st quarter valued at $30,000. Johnson Financial Group Inc. lifted its holdings in Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. CX Institutional purchased a new position in Hubbell in the 1st quarter valued at $49,000. NBC Securities Inc. purchased a new position in Hubbell in the 1st quarter valued at $49,000. Finally, Intact Investment Management Inc. purchased a new position in Hubbell in the 1st quarter valued at $66,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Trading Up 0.1%

Shares of HUBB traded up $0.60 during midday trading on Thursday, reaching $446.66. The company had a trading volume of 104,195 shares, compared to its average volume of 620,595. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The stock has a market cap of $23.74 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. The firm has a 50 day simple moving average of $423.45 and a 200-day simple moving average of $384.30. 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 issued its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.36 by $0.57. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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. Research analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HUBB shares. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Barclays raised 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 raised their price objective on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their target price on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $462.29.

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.