Hubbell Inc $HUBB Shares Acquired by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in Hubbell Inc by 32.3%, owning approximately 0.14% of the company, worth about $24.37 million at the end of the first quarter.
• Wells Fargo & Company and other analysts have raised their price targets for Hubbell, with the average price target now at $462.29 and a consensus rating of "Hold."
• Hubbell recently declared a quarterly dividend of $1.32, which represents an annualized dividend yield of 1.2%.

Northwest & Ethical Investments L.P. increased its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,632 shares of the industrial products company's stock after purchasing an additional 17,995 shares during the period. Northwest & Ethical Investments L.P. owned 0.14% of Hubbell worth $24,366,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in Hubbell by 0.5% in the 1st quarter. American Century Companies Inc. now owns 142,966 shares of the industrial products company's stock valued at $47,309,000 after acquiring an additional 710 shares during the period. Ethic Inc. increased its position in Hubbell by 2.4% in the 1st quarter. Ethic Inc. now owns 12,075 shares of the industrial products company's stock valued at $4,019,000 after acquiring an additional 282 shares during the period. Aberdeen Group plc increased its position in Hubbell by 4.6% in the 1st quarter. Aberdeen Group plc now owns 229,214 shares of the industrial products company's stock valued at $74,539,000 after acquiring an additional 10,042 shares during the period. Dimensional Fund Advisors LP increased its position in Hubbell by 15.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 426,724 shares of the industrial products company's stock valued at $141,197,000 after acquiring an additional 57,420 shares during the period. Finally, Horizon Investments LLC increased its position in Hubbell by 5.0% in the 1st quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock valued at $255,000 after acquiring an additional 37 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

Shares of HUBB stock traded down $2.7460 during mid-day trading on Wednesday, hitting $430.0640. 345,957 shares of the stock traded hands, compared to its average volume of 631,513. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The firm has a market cap of $22.85 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99. The company's 50-day simple moving average is $417.80 and its 200-day simple moving average is $382.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30.

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

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 29th. Hubbell's payout ratio is presently 34.29%.

Analyst Ratings Changes

Several research firms recently commented on HUBB. Wells Fargo & Company raised their target price on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised 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 upgraded Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Barclays raised 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. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $462.29.

Hubbell Company 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.