International Assets Investment Management LLC Has $1.48 Million Stake in Hubbell Inc $HUBB

Key Points

• International Assets Investment Management LLC has decreased its stake in Hubbell Inc by 16.6% during the second quarter, now holding shares valued at $1.48 million.
• Hedge funds control 88.16% of Hubbell's stock, with several firms increasing their positions in the company during the same period.
• Hubbell received positive ratings from analysts, including an upgrade to "strong-buy" and a consensus price target of $476.50, reflecting strong potential growth.

International Assets Investment Management LLC decreased its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 16.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,615 shares of the industrial products company's stock after selling 721 shares during the quarter. International Assets Investment Management LLC's holdings in Hubbell were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. DB Fitzpatrick & Co Inc lifted its stake in Hubbell by 0.6% in the second quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company's stock valued at $1,776,000 after buying an additional 26 shares during the period. Chicago Capital LLC lifted its stake in Hubbell by 0.5% in the second quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company's stock valued at $2,504,000 after buying an additional 29 shares during the period. Greenleaf Trust lifted its stake in Hubbell by 4.0% in the second quarter. Greenleaf Trust now owns 801 shares of the industrial products company's stock valued at $327,000 after buying an additional 31 shares during the period. Capital Investment Advisors LLC raised its position in shares of Hubbell by 4.3% during the second quarter. Capital Investment Advisors LLC now owns 866 shares of the industrial products company's stock worth $354,000 after purchasing an additional 36 shares during the period. Finally, Horizon Investments LLC lifted its holdings in shares of Hubbell by 5.0% during the 1st quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock valued at $255,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HUBB shares. Wall Street Zen upgraded Hubbell from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Stephens reiterated an "overweight" rating and issued a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. JPMorgan Chase & Co. increased their price objective on shares of Hubbell from $417.00 to $458.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 15th. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Finally, Mizuho upped their target price on shares of Hubbell from $475.00 to $480.00 and gave the stock an "outperform" rating in a research note on Friday. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $476.50.

Hubbell Trading Down 0.6%

NYSE:HUBB opened at $426.44 on Monday. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. 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 business has a 50 day moving average price of $431.33 and a two-hundred day moving average price of $403.28. The company has a market cap of $22.66 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96.

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. Hubbell's dividend payout ratio is 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.

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