MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $121.46 Million Stock Position in Hubbell Inc $HUBB

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Hubbell Inc by 8.1%, now owning 367,054 shares valued at $121.46 million.
• Hubbell reported $4.93 EPS for the last quarter, exceeding analysts' expectations, and has set FY 2025 guidance at 17.650-18.15 EPS.
• Wells Fargo & Company upgraded Hubbell's rating from "equal weight" to "overweight," increasing the price target from $445 to $490.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 367,054 shares of the industrial products company's stock after selling 32,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.69% of Hubbell worth $121,462,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of HUBB. Nissay Asset Management Corp Japan ADV lifted its stake in Hubbell by 0.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock valued at $2,757,000 after acquiring an additional 26 shares during the last quarter. Horizon Investments LLC lifted its stake 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 worth $255,000 after buying an additional 37 shares during the last quarter. Abundance Wealth Counselors boosted its holdings in shares of Hubbell by 1.6% during 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 during the period. Vestcor Inc grew 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 valued at $710,000 after buying an additional 50 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in Hubbell by 16.4% in the 1st quarter. Brooklyn Investment Group now owns 384 shares of the industrial products company's stock valued at $127,000 after acquiring an additional 54 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on HUBB. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays upped their price target on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $468.71.

Hubbell Price Performance

Shares of HUBB stock traded up $0.26 on Tuesday, hitting $436.88. 344,442 shares of the company's stock were exchanged, compared to its average volume of 614,882. The company has a 50 day moving average of $428.70 and a 200 day moving average of $386.62. The stock has a market cap of $23.22 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 2.44 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 Inc has a 12 month low of $299.42 and a 12 month high of $481.35.

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

Hubbell Announces Dividend

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

About Hubbell

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.