Park Avenue Securities LLC Acquires New Holdings in Hubbell Inc $HUBB

Key Points

• Park Avenue Securities LLC has acquired 2,773 shares of Hubbell Inc, valued at approximately $1,132,000, increasing its holdings alongside other institutional investors who maintain an 88.16% ownership of the stock.
• Analysts have recently upgraded Hubbell's stock ratings, with four analysts rating it as a Buy and a consensus price target of $472.63.
• Hubbell recently announced a quarterly dividend of $1.32 per share, representing an annualized yield of 1.2% with a payout ratio of 34.29%.

Park Avenue Securities LLC acquired a new stake in Hubbell Inc (NYSE:HUBB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,773 shares of the industrial products company's stock, valued at approximately $1,132,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new position in shares of Hubbell during the second quarter valued at $29,000. Tsfg LLC bought a new position in Hubbell during the first quarter worth $30,000. NBC Securities Inc. bought a new position in Hubbell during the first quarter worth $49,000. CX Institutional bought a new position in Hubbell during the first quarter worth $49,000. Finally, Ransom Advisory Ltd bought a new position in Hubbell during the first quarter worth $53,000. Institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in 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. Stephens restated an "overweight" rating and issued a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Finally, Barclays raised their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Four investment 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $472.63.

Hubbell Stock Up 1.2%

Hubbell stock opened at $425.45 on Friday. 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 $22.61 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 2.35 and a beta of 0.99. The firm's 50-day simple moving average is $433.67 and its 200 day simple moving average is $393.75. 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 released its quarterly earnings results 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 business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Research analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, August 29th. This represents a $5.28 annualized dividend and a 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.

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