Legacy Wealth Management LLC MS Takes Position in Hubbell Inc $HUBB

Key Points

• Legacy Wealth Management LLC MS has acquired a new stake in Hubbell Inc (NYSE:HUBB), purchasing 4,317 shares valued at approximately $1.76 million.
• Hubbell's recent earnings report exceeded analysts' expectations, with an EPS of $4.93 compared to the consensus of $4.36, and the company has set a FY 2025 guidance of 17.650-18.15 EPS.
• Analysts have given Hubbell an average rating of "Moderate Buy" with a consensus price target of $472.63, following several ratings upgrades from various financial institutions.

Legacy Wealth Management LLC MS acquired a new position in Hubbell Inc (NYSE:HUBB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,317 shares of the industrial products company's stock, valued at approximately $1,763,000.

Several other hedge funds have also recently bought and sold shares of the business. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Hubbell during the 1st quarter worth about $960,000. Voya Investment Management LLC increased its holdings in shares of Hubbell by 0.3% during the 1st quarter. Voya Investment Management LLC now owns 28,634 shares of the industrial products company's stock valued at $9,475,000 after acquiring an additional 83 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Hubbell during the 1st quarter valued at about $599,000. Geneos Wealth Management Inc. increased its holdings in shares of Hubbell by 271.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 155 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Hubbell in the 1st quarter valued at approximately $53,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of Hubbell stock traded down $2.90 during midday trading on Tuesday, hitting $435.21. 457,195 shares of the company were exchanged, compared to its average volume of 425,499. The firm has a 50 day simple moving average of $431.90 and a 200-day simple moving average of $389.37. 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 Inc has a 52 week low of $299.42 and a 52 week high of $481.35. The firm has a market cap of $23.13 billion, a P/E ratio of 25.74, a PEG ratio of 2.45 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data 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 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. Research analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $1.32 dividend. The ex-dividend date was Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's payout ratio is presently 34.29%.

Analysts Set New Price Targets

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

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.