Aberdeen Group plc Acquires 10,042 Shares of Hubbell Inc $HUBB

Key Points

• Aberdeen Group plc increased its holdings in Hubbell Inc by 4.6%, owning about 0.43% of the company's stock, worth approximately $74.54 million.
• Hubbell reported quarterly earnings of $4.93 per share, exceeding estimates of $4.36, despite slightly lower revenues of $1.48 billion compared to the expected $1.51 billion.
• The company declared a quarterly dividend of $1.32 per share, with a 1.2% yield and a payout ratio of 34.29%.

Aberdeen Group plc increased its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 4.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 229,214 shares of the industrial products company's stock after buying an additional 10,042 shares during the period. Aberdeen Group plc owned 0.43% of Hubbell worth $74,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV increased its stake in Hubbell by 0.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after buying an additional 26 shares in the last quarter. Horizon Investments LLC increased its stake in Hubbell by 5.0% in the 1st quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock worth $255,000 after buying an additional 37 shares in the last quarter. Abundance Wealth Counselors increased its stake in Hubbell by 1.6% in the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock worth $851,000 after buying an additional 41 shares in the last quarter. Utah Retirement Systems increased its stake in Hubbell by 0.5% in the 4th quarter. Utah Retirement Systems now owns 8,857 shares of the industrial products company's stock worth $3,710,000 after buying an additional 48 shares in the last quarter. Finally, Vestcor Inc increased its stake in Hubbell by 2.4% in the 1st quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock worth $710,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HUBB. Barclays increased their price target on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company increased their price target on Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their price objective on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Two equities 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.com, Hubbell has an average rating of "Hold" and an average price target of $462.29.

Hubbell Stock Performance

Shares of NYSE:HUBB traded down $3.8310 during trading on Wednesday, reaching $428.9790. The stock had a trading volume of 169,212 shares, compared to its average volume of 630,372. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $481.35. The firm has a market capitalization of $22.80 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 2.42 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $417.80 and a two-hundred day simple moving average of $382.66.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal 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 paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 29th. Hubbell's dividend payout ratio is presently 34.29%.

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.