FORA Capital LLC Has $2.17 Million Stake in Hubbell Inc $HUBB

Key Points

• FORA Capital LLC increased its stake in Hubbell Inc by 142.9% during the first quarter, now holding 6,557 shares valued at approximately $2.17 million.
• Hubbell reported $4.93 earnings per share for the last quarter, exceeding analysts' expectations of $4.36, with a total revenue of $1.48 billion.
• The company announced a quarterly dividend of $1.32 per share, representing an annualized yield of 1.2%, with the payout set for September 15th.

FORA Capital LLC grew its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 142.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,557 shares of the industrial products company's stock after purchasing an additional 3,858 shares during the quarter. FORA Capital LLC's holdings in Hubbell were worth $2,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in HUBB. Kovitz Investment Group Partners LLC purchased a new stake in shares of Hubbell during the fourth quarter worth about $253,000. Johnson Financial Group Inc. boosted 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 worth $44,000 after buying an additional 65 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in Hubbell by 29.0% in the 4th quarter. Beacon Pointe Advisors LLC now owns 4,592 shares of the industrial products company's stock valued at $1,924,000 after purchasing an additional 1,032 shares during the last quarter. Northern Trust Corp increased its stake in shares of Hubbell by 16.4% in the 4th quarter. Northern Trust Corp now owns 518,111 shares of the industrial products company's stock worth $217,032,000 after acquiring an additional 72,913 shares during the last quarter. Finally, Lido Advisors LLC acquired a new stake in shares of Hubbell in the 4th quarter worth $210,000. 88.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HUBB. Wells Fargo & Company upped their target price on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target 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 report on Saturday, August 2nd. Finally, Barclays increased their price objective on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Two 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 company has a consensus rating of "Hold" and a consensus price target of $462.29.

Hubbell Stock Down 3.3%

Shares of HUBB 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 449,169. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The company has a market cap of $22.91 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.49 and a beta of 0.99. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The company has a fifty day moving average of $425.11 and a two-hundred day moving average of $384.86.

Hubbell (NYSE:HUBB - Get Free Report) last issued 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. Hubbell had a return on equity of 27.63% and a net margin of 14.76%.The firm 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. On average, sell-side analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

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