Hubbell Inc $HUBB Holdings Boosted by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in Hubbell Inc ($HUBB) by 5.6%, owning 12,409 shares valued at approximately $5.068 million after acquiring additional shares.
• Hubbell received multiple analyst upgrades, with Wells Fargo raising its price target from $445 to $490, reflecting a positive outlook on the stock.
• The company recently announced a quarterly dividend of $1.32 per share, providing an annualized yield of 1.2% with a payout ratio of 34.29%.

IFM Investors Pty Ltd boosted its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,409 shares of the industrial products company's stock after purchasing an additional 656 shares during the quarter. IFM Investors Pty Ltd's holdings in Hubbell were worth $5,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of HUBB. Horizon Investments LLC boosted its holdings in Hubbell by 5.0% during the first 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 grew its stake in Hubbell by 1.6% in the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock valued at $851,000 after buying an additional 41 shares during the last quarter. Vestcor Inc increased its stake in shares of Hubbell by 2.4% during the first quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock worth $710,000 after purchasing an additional 50 shares during the period. Brooklyn Investment Group raised its stake in Hubbell by 16.4% in the 1st quarter. Brooklyn Investment Group now owns 384 shares of the industrial products company's stock worth $127,000 after purchasing an additional 54 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Hubbell by 21.1% in the first quarter. UMB Bank n.a. now owns 322 shares of the industrial products company's stock valued at $107,000 after buying an additional 56 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of recent research reports. Barclays increased 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. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Stephens reaffirmed an "overweight" rating and issued a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Finally, Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Hubbell currently has an average rating of "Moderate Buy" and an average price target of $472.63.

Hubbell Stock Down 0.6%

NYSE HUBB traded down $2.65 on Monday, reaching $438.79. 629,595 shares of the stock traded hands, compared to its average volume of 456,193. 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 fifty day moving average price of $433.46 and a 200-day moving average price of $392.04. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. The company has a market cap of $23.32 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 2.47 and a beta of 0.99.

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. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations 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. As a group, research analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $1.32 dividend. The ex-dividend date was Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell's dividend payout ratio is currently 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.