Dimensional Fund Advisors LP Boosts Stock Position in Hubbell Inc $HUBB

Key Points

• Dimensional Fund Advisors LP increased its stake in Hubbell Inc by 15.5%, owning 426,724 shares worth approximately $141.2 million after acquiring an additional 57,420 shares in Q1.
• Hubbell reported an earnings per share (EPS) of $4.93 for the last quarter, exceeding analysts' estimates, with a revenue of $1.48 billion.
• A quarterly dividend of $1.32 has been announced, payable on September 15th, leading to an annualized dividend yield of 1.2%.

Dimensional Fund Advisors LP grew its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 15.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 426,724 shares of the industrial products company's stock after acquiring an additional 57,420 shares during the quarter. Dimensional Fund Advisors LP owned about 0.80% of Hubbell worth $141,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Hubbell by 0.3% in the first 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 buying an additional 7,142 shares during the last quarter. Invesco Ltd. lifted its position in Hubbell by 2.1% in the first quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company's stock worth $503,757,000 after buying an additional 31,859 shares during the last quarter. Deutsche Bank AG lifted its position in Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after buying an additional 287,047 shares during the last quarter. Nuveen LLC bought a new stake in Hubbell in the first quarter worth $213,283,000. Finally, Northern Trust Corp lifted its position in Hubbell by 16.4% in the fourth quarter. Northern Trust Corp now owns 518,111 shares of the industrial products company's stock worth $217,032,000 after buying an additional 72,913 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HUBB has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays raised their price target on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted 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. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $462.29.

Hubbell Stock Up 1.2%

Shares of Hubbell stock traded up $5.07 during trading on Tuesday, hitting $442.63. 546,796 shares of the stock traded hands, compared to its average volume of 519,912. The firm has a market cap of $23.52 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 2.45 and a beta of 0.99. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. The stock's fifty day simple moving average is $422.49 and its 200 day simple moving average is $383.87.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates 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. On average, equities analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell's dividend payout ratio (DPR) is currently 34.29%.

Hubbell 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.