Adage Capital Partners GP L.L.C. Buys 628,886 Shares of Hubbell Inc $HUBB

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Hubbell Inc by 181.6%, owning 975,196 shares valued at approximately $322.7 million by the end of the most recent reporting period.
• Hubbell recently had its quarterly earnings exceed estimates with reported earnings per share of $4.93, and the company has set FY 2025 guidance at 17.650-18.15 EPS.
• The firm announced a quarterly dividend of $1.32 per share, reflecting a yield of 1.2%, payable on September 15 to investors of record as of August 29.

Adage Capital Partners GP L.L.C. lifted its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 181.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 975,196 shares of the industrial products company's stock after purchasing an additional 628,886 shares during the quarter. Hubbell accounts for about 0.6% of Adage Capital Partners GP L.L.C.'s holdings, making the stock its 26th largest position. Adage Capital Partners GP L.L.C. owned about 1.83% of Hubbell worth $322,702,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tsfg LLC bought a new stake in shares of Hubbell during the 1st quarter valued at $30,000. CX Institutional bought a new stake in shares of Hubbell during the 1st quarter valued at $49,000. NBC Securities Inc. bought a new stake in shares of Hubbell during the 1st quarter valued at $49,000. Groupe la Francaise bought a new stake in shares of Hubbell during the 1st quarter valued at $57,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Hubbell during the 1st quarter valued at $66,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Down 0.2%

Shares of NYSE HUBB traded down $1.07 during mid-day trading on Friday, hitting $436.09. 395,847 shares of the stock traded hands, compared to its average volume of 396,219. 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 Inc has a 52 week low of $299.42 and a 52 week high of $481.35. The company has a market cap of $23.17 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.45 and a beta of 0.99. The stock has a fifty day moving average price of $428.16 and a 200-day moving average price of $386.26.

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

Hubbell Dividend Announcement

The business 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 yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell's dividend payout ratio (DPR) is 34.29%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HUBB. Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $445.00 to $490.00 in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on 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 Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Barclays boosted their target price on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Hubbell has a consensus rating of "Hold" and an average target price of $468.71.

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.