BNP Paribas Financial Markets Raises Holdings in Hubbell Inc $HUBB

Key Points

• BNP Paribas Financial Markets increased its stake in Hubbell Inc by 13.4%, owning 114,828 shares valued at approximately $38 million as of its most recent SEC filing.
• Hubbell reported earnings of $4.93 per share, surpassing the consensus estimate, and set FY 2025 guidance at a range of $17.650-$18.15 EPS.
• The company declared a quarterly dividend of $1.32 per share, yielding about 1.2%, with the payment date set for September 15th.

BNP Paribas Financial Markets raised its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,828 shares of the industrial products company's stock after acquiring an additional 13,535 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.22% of Hubbell worth $37,998,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in shares of Hubbell by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock worth $937,623,000 after acquiring an additional 7,142 shares in the last quarter. Invesco Ltd. boosted its position in shares of Hubbell by 2.1% during the 1st quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company's stock worth $503,757,000 after acquiring an additional 31,859 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Hubbell by 35.1% during the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after acquiring an additional 287,047 shares in the last quarter. Nuveen LLC acquired a new position in shares of Hubbell during the 1st quarter worth about $213,283,000. Finally, Northern Trust Corp boosted its position in shares of Hubbell by 2.9% in the 1st quarter. Northern Trust Corp now owns 532,977 shares of the industrial products company's stock valued at $176,367,000 after purchasing an additional 14,866 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HUBB has been the subject of a number of research analyst reports. Barclays upped their target price on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company raised Hubbell from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $445.00 to $490.00 in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $468.71.

Hubbell Stock Performance

HUBB traded down $1.07 on Friday, hitting $436.09. 279,005 shares of the company traded hands, compared to its average volume of 616,664. The company has a 50 day moving average of $427.57 and a 200-day moving average of $385.98. 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 stock has a market capitalization of $23.17 billion, a PE ratio of 28.34, a PEG ratio of 2.40 and a beta of 0.99. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating the consensus estimate of $4.36 by $0.57. The firm 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. Sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid 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 is 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.