National Pension Service Has $174,000 Position in Hubbell Inc $HUBB

Key Points

• The National Pension Service significantly reduced its holdings in Hubbell Inc by 99.3%, owning only 526 shares valued at $174,000 after selling 71,226 shares in the first quarter.
• Recent analyst reports have upgraded Hubbell's ratings, with companies like Wells Fargo and Barclays increasing their price targets, indicating a positive outlook on the stock.
• Hubbell announced a quarterly dividend of $1.32 per share, which will be paid on September 15th, contributing to an annual yield of 1.2%.

National Pension Service decreased its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 99.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 526 shares of the industrial products company's stock after selling 71,226 shares during the quarter. National Pension Service's holdings in Hubbell were worth $174,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Klingman & Associates LLC purchased a new position in Hubbell in the 1st quarter valued at $816,000. Russell Investments Group Ltd. lifted its position in shares of Hubbell by 12.3% during the 1st quarter. Russell Investments Group Ltd. now owns 34,353 shares of the industrial products company's stock worth $11,368,000 after purchasing an additional 3,763 shares during the last quarter. Prudential PLC lifted its holdings in shares of Hubbell by 0.6% in the 1st quarter. Prudential PLC now owns 25,232 shares of the industrial products company's stock valued at $8,350,000 after purchasing an additional 150 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in Hubbell by 5.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 16,781 shares of the industrial products company's stock worth $5,556,000 after purchasing an additional 888 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of Hubbell by 8.3% during the first quarter. Public Sector Pension Investment Board now owns 7,267 shares of the industrial products company's stock worth $2,405,000 after purchasing an additional 555 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on HUBB shares. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. 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. Wells Fargo & Company lifted their price objective on Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, Barclays boosted their target price 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. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $462.29.

Hubbell Stock Up 3.8%

HUBB stock traded up $16.21 during mid-day trading on Friday, hitting $443.78. The stock had a trading volume of 69,970 shares, compared to its average volume of 626,583. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The company has a fifty day moving average of $419.36 and a 200 day moving average of $383.12. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 2.41 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping the consensus estimate of $4.36 by $0.57. The business had revenue of $1.48 billion during 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 analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. 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.