Mirae Asset Global Investments Co. Ltd. Sells 14,906 Shares of Hubbell Inc $HUBB

Mirae Asset Global Investments Co. Ltd. cut its position in Hubbell Inc (NYSE:HUBB - Free Report) by 64.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,326 shares of the industrial products company's stock after selling 14,906 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Hubbell were worth $3,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. J. Safra Sarasin Holding AG bought a new position in shares of Hubbell in the second quarter valued at $1,922,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Hubbell by 848.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 191,748 shares of the industrial products company's stock valued at $78,312,000 after buying an additional 171,535 shares in the last quarter. BSW Wealth Partners bought a new position in Hubbell during the second quarter worth $261,000. Truist Financial Corp boosted its position in Hubbell by 2.9% during the second quarter. Truist Financial Corp now owns 16,492 shares of the industrial products company's stock worth $6,736,000 after purchasing an additional 472 shares during the period. Finally, Bourgeon Capital Management LLC boosted its position in Hubbell by 48.6% during the second quarter. Bourgeon Capital Management LLC now owns 32,958 shares of the industrial products company's stock worth $13,460,000 after purchasing an additional 10,774 shares during the period. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HUBB has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Stephens reaffirmed an "overweight" rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. Wells Fargo & Company raised 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 report on Tuesday, September 2nd. Wall Street Zen raised shares of Hubbell from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Hubbell in a research report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $472.63.

Hubbell Trading Down 0.1%

Shares of Hubbell stock opened at $412.70 on Wednesday. The firm has a 50-day moving average of $432.07 and a 200-day moving average of $398.17. The stock has a market cap of $21.93 billion, a PE ratio of 26.80, a PEG ratio of 2.31 and a beta of 0.96. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. 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 posted 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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. As a group, sell-side analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 29th. Hubbell's payout ratio is 34.29%.

Hubbell 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.