Hubbell Inc $HUBB Shares Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Hubbell Inc by 9.7% during the second quarter, making the total 31,317 shares worth about $12.79 million.
• Hubbell recorded a quarterly EPS of $4.93, exceeding analysts' estimates of $4.36, while revenue for the quarter was $1.48 billion, slightly below expectations.
• The company also declared a $1.32 quarterly dividend, resulting in an annualized dividend of $5.28 and a dividend yield of 1.3%.

Janney Montgomery Scott LLC boosted its position in Hubbell Inc (NYSE:HUBB - Free Report) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,317 shares of the industrial products company's stock after purchasing an additional 2,772 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Hubbell worth $12,790,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Washington Capital Management Inc. acquired a new position in Hubbell in the 2nd quarter valued at $490,000. V Square Quantitative Management LLC raised its stake in Hubbell by 81.5% in the 2nd quarter. V Square Quantitative Management LLC now owns 1,770 shares of the industrial products company's stock valued at $723,000 after purchasing an additional 795 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in Hubbell by 0.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 178,420 shares of the industrial products company's stock valued at $72,869,000 after buying an additional 602 shares in the last quarter. LVW Advisors LLC purchased a new stake in Hubbell in the 2nd quarter valued at $259,000. Finally, Signaturefd LLC grew its holdings in Hubbell by 38.4% in the 2nd quarter. Signaturefd LLC now owns 779 shares of the industrial products company's stock valued at $318,000 after buying an additional 216 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Performance

Shares of Hubbell stock opened at $413.15 on Friday. The business has a 50-day moving average of $432.84 and a 200 day moving average of $396.77. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating analysts' consensus estimates of $4.36 by $0.57. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations 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. As a group, sell-side analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, August 29th. Hubbell's dividend payout ratio (DPR) is presently 34.29%.

Wall Street Analyst Weigh In

HUBB has been the subject of several analyst reports. Wells Fargo & Company upgraded 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 report on Tuesday, September 2nd. Wall Street Zen upgraded Hubbell from a "buy" rating to a "strong-buy" rating in a report on Friday. Weiss Ratings restated a "buy (b-)" rating on shares of Hubbell in a report on Saturday, September 27th. Stephens restated an "overweight" rating and issued a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Finally, Barclays upped 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. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $472.63.

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.

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