Hubbell Inc $HUBB Stock Position Boosted by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Hubbell Inc by 99.9% during Q2, owning a total of 10,988 shares valued at approximately $4.56 million.
• Hubbell Inc received several analyst upgrades, with Wells Fargo raising its price target from $445 to $490 and upgrading from "equal weight" to "overweight".
• The company announced a quarterly dividend of $1.32 per share, resulting in an annualized yield of 1.3% and a dividend payout ratio of 34.29%.

Wealth Enhancement Advisory Services LLC boosted its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 99.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,988 shares of the industrial products company's stock after buying an additional 5,490 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Hubbell were worth $4,559,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas grew its position in Hubbell by 1,462.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock valued at $2,596,000 after buying an additional 7,344 shares in the last quarter. Private Trust Co. NA grew its position in Hubbell by 60.4% in the 1st quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock valued at $97,000 after buying an additional 110 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Hubbell by 29.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company's stock valued at $522,000 after buying an additional 360 shares in the last quarter. Beacon Financial Group bought a new position in shares of Hubbell during the 2nd quarter valued at about $262,000. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Hubbell during the 1st quarter valued at about $1,423,000. Institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

HUBB has been the subject of several research reports. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Barclays raised their price objective on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, Stephens restated an "overweight" rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $472.63.

Hubbell Stock Performance

Shares of HUBB opened at $420.01 on Friday. Hubbell Inc has a one year low of $299.42 and a one year high of $481.35. The company has a 50-day moving average of $433.77 and a two-hundred day moving average of $393.17. The stock has a market cap of $22.32 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 2.41 and a beta of 0.99. 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, 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, equities research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued 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%.

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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