PharVision Advisers LLC Invests $289,000 in Hubbell Inc $HUBB

Key Points

• PharVision Advisers LLC invested $289,000 in Hubbell Inc, acquiring 874 shares of the company during the first quarter, indicating growing institutional interest in HUBB.
• Several analysts have raised their price targets for Hubbell Inc, with JPMorgan increasing their target from $352 to $417 and Wells Fargo raising it from $445 to $490, reflecting positive growth expectations.
• Hubbell is set to pay a quarterly dividend of $1.32, representing an annualized yield of 1.2% and a payout ratio of 34.29%, enhancing its attractiveness to income-focused investors.

PharVision Advisers LLC acquired a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 874 shares of the industrial products company's stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nissay Asset Management Corp Japan ADV boosted its stake in Hubbell by 0.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after purchasing an additional 26 shares during the period. Horizon Investments LLC lifted its stake in shares of Hubbell by 5.0% in the 1st quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock valued at $255,000 after purchasing an additional 37 shares during the last quarter. Abundance Wealth Counselors raised its holdings in Hubbell by 1.6% in the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock worth $851,000 after acquiring an additional 41 shares during the period. Vestcor Inc raised its holdings in Hubbell by 2.4% in the 1st quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock worth $710,000 after acquiring an additional 50 shares during the period. Finally, Brooklyn Investment Group raised its holdings in Hubbell by 16.4% in the 1st quarter. Brooklyn Investment Group now owns 384 shares of the industrial products company's stock worth $127,000 after acquiring an additional 54 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

Shares of HUBB traded up $0.26 during midday trading on Tuesday, reaching $436.88. The stock had a trading volume of 344,442 shares, compared to its average volume of 411,413. The firm has a 50 day simple moving average of $429.21 and a 200-day simple moving average of $386.96. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. The firm has a market cap of $23.22 billion, a PE ratio of 28.37, a P/E/G ratio of 2.44 and a beta of 0.99. Hubbell Inc has a one year low of $299.42 and a one year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.36 by $0.57. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

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 paid a $1.32 dividend. The ex-dividend date is Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's payout ratio is 34.29%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Barclays upped their target price 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. JPMorgan Chase & Co. boosted their price target 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, Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Hubbell presently has a consensus rating of "Hold" and an average target price of $468.71.

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.