Hubbell Inc $HUBB Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in Hubbell Inc by 391.7% during the first quarter, holding approximately 102,970 shares valued at $34.07 million.
• Hubbell's stock has received positive attention from analysts, with Barclays and Wells Fargo raising their price targets to $431 and $445, respectively, while two analysts rated the stock as a Buy.
• The company reported an earnings per share (EPS) of $4.93 for the last quarter, surpassing expectations, and it announced a quarterly dividend of $1.32 scheduled for September 15th.

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 391.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,970 shares of the industrial products company's stock after purchasing an additional 82,027 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.19% of Hubbell worth $34,074,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nuveen LLC acquired a new position in Hubbell during the first quarter worth $213,283,000. Deutsche Bank AG raised its holdings in shares of Hubbell by 35.1% during the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after acquiring an additional 287,047 shares during the period. Bain Capital Public Equity Management II LLC acquired a new position in shares of Hubbell during the 4th quarter valued at about $95,868,000. GAMMA Investing LLC grew its holdings in shares of Hubbell by 52,429.8% in the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after purchasing an additional 191,893 shares during the period. Finally, PointState Capital LP purchased a new stake in shares of Hubbell in the fourth quarter valued at about $78,443,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Down 3.1%

Shares of HUBB stock traded down $13.66 on Friday, hitting $430.82. The stock had a trading volume of 353,709 shares, compared to its average volume of 621,246. The company's 50 day moving average price is $424.39 and its 200-day moving average price is $384.62. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The firm has a market capitalization of $22.89 billion, a P/E ratio of 28.03, a P/E/G ratio of 2.50 and a beta of 0.99.

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 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 company 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. Analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HUBB shares. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company lifted their price target on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Barclays increased their price objective on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $462.29.

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.