Northern Trust Corp Increases Stock Position in Hubbell Inc $HUBB

Key Points

• Northern Trust Corp increased its ownership in Hubbell Inc by 2.9% in Q1, holding 532,977 shares valued at approximately $176.37 million.
• Hubbell's quarterly earnings exceeded expectations, reporting $4.93 EPS and setting FY 2025 guidance at 17.650-18.15 EPS.
• The company announced a quarterly dividend of $1.32 per share, with a payout ratio of 34.29% and an annualized yield of 1.2%.

Northern Trust Corp grew its position in Hubbell Inc (NYSE:HUBB - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 532,977 shares of the industrial products company's stock after purchasing an additional 14,866 shares during the quarter. Northern Trust Corp owned approximately 1.00% of Hubbell worth $176,367,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Hubbell by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock valued at $937,623,000 after purchasing an additional 7,142 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Hubbell by 2.1% in the 1st quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company's stock valued at $503,757,000 after purchasing an additional 31,859 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Hubbell by 35.1% in the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock valued at $365,353,000 after purchasing an additional 287,047 shares during the last quarter. Nuveen LLC bought a new stake in shares of Hubbell in the 1st quarter valued at $213,283,000. Finally, Dimensional Fund Advisors LP boosted its stake in Hubbell by 15.5% during the first quarter. Dimensional Fund Advisors LP now owns 426,724 shares of the industrial products company's stock worth $141,197,000 after acquiring an additional 57,420 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Barclays increased their target price on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. 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 note on Friday, May 16th. Finally, Wells Fargo & Company increased their target price on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Hubbell currently has a consensus rating of "Hold" and a consensus target price of $462.29.

Hubbell Stock Up 3.0%

HUBB traded up $12.72 during trading on Friday, hitting $440.29. 326,642 shares of the company's stock were exchanged, compared to its average volume of 558,782. 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's 50 day moving average is $420.53 and its two-hundred day moving average is $383.20. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The stock has a market cap of $23.40 billion, a P/E ratio of 28.59, a PEG ratio of 2.47 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last released 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. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion for 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, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 1.2%. Hubbell's dividend payout ratio is presently 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.