Hubbell Inc $HUBB Shares Purchased by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd increased its stake in Hubbell Inc by 49.4%, acquiring a total of 9,280 shares valued at approximately $3.07 million.
• Hubbell's recent quarterly earnings beat consensus estimates with an EPS of $4.93, exceeding the expected $4.36.
• The company announced a quarterly dividend of $1.32 per share, representing an annualized yield of 1.2%.

USS Investment Management Ltd lifted its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 49.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,280 shares of the industrial products company's stock after acquiring an additional 3,068 shares during the quarter. USS Investment Management Ltd's holdings in Hubbell were worth $3,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV grew its position in Hubbell by 0.4% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock valued at $2,757,000 after buying an additional 26 shares during the period. Horizon Investments LLC grew its position in Hubbell by 5.0% during the first quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock valued at $255,000 after buying an additional 37 shares during the period. Abundance Wealth Counselors grew its position in Hubbell by 1.6% during the first 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 period. Vestcor Inc grew its position in Hubbell by 2.4% during the first quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock valued at $710,000 after buying an additional 50 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of Hubbell by 16.4% in the first quarter. Brooklyn Investment Group now owns 384 shares of the industrial products company's stock worth $127,000 after buying an additional 54 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Stock Down 3.0%

Shares of HUBB stock traded down $13.51 during trading on Friday, reaching $437.42. The company's stock had a trading volume of 729,280 shares, compared to its average volume of 399,971. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The company has a market capitalization of $23.24 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 2.52 and a beta of 0.99. The stock's 50-day moving average price is $430.95 and its 200 day moving average price is $388.37. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. On average, research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

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 $1.32 dividend. 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 is presently 34.29%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Stephens reissued an "overweight" rating and issued a $500.00 price target on shares of Hubbell in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Barclays raised their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $472.63.

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.