Ceredex Value Advisors LLC Boosts Holdings in Hubbell Inc $HUBB

Key Points

• Ceredex Value Advisors LLC increased its stake in Hubbell Inc by 50.2% during the first quarter, acquiring almost 100,000 shares valued at over $33 million.
• Hubbell reported $4.93 EPS for the last quarter, exceeding analyst expectations, although revenue was slightly below estimates at $1.48 billion.
• The company announced a quarterly dividend of $1.32 per share, with a payout ratio of 34.29%, highlighting its financial stability.

Ceredex Value Advisors LLC increased its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 50.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,975 shares of the industrial products company's stock after purchasing an additional 33,425 shares during the quarter. Ceredex Value Advisors LLC owned 0.19% of Hubbell worth $33,083,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Nissay Asset Management Corp Japan ADV raised its position in shares of Hubbell by 0.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock valued at $2,757,000 after purchasing an additional 26 shares in the last quarter. Horizon Investments LLC increased its position in Hubbell by 5.0% in the 1st quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock worth $255,000 after purchasing an additional 37 shares during the last quarter. Abundance Wealth Counselors boosted its stake in Hubbell by 1.6% during the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock valued at $851,000 after purchasing an additional 41 shares during the period. Utah Retirement Systems lifted its position in shares of Hubbell by 0.5% in the 4th quarter. Utah Retirement Systems now owns 8,857 shares of the industrial products company's stock worth $3,710,000 after acquiring an additional 48 shares during the period. Finally, Vestcor Inc increased its holdings in Hubbell by 2.4% during the 1st quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock valued at $710,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lifted their price target on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, Barclays increased their target price on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $462.29.

Hubbell Stock Down 3.3%

Shares of HUBB stock traded down $14.62 during trading on Friday, reaching $431.18. The company's stock had a trading volume of 579,237 shares, compared to its average volume of 622,682. The stock's 50-day moving average price is $424.39 and its 200 day moving average price is $384.62. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The company has a market capitalization of $22.91 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.50 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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, research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 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.