Price T Rowe Associates Inc. MD Trims Stock Holdings in Hubbell Inc $HUBB

Key Points

• Price T Rowe Associates Inc. has reduced its stake in Hubbell Inc by 25.7%, now holding approximately 1.17 million shares valued at around $386.97 million.
• Hubbell is set to pay a quarterly dividend of $1.32 per share on September 15, with an annualized dividend yield of 1.2%.
• Hubbell's quarterly earnings beat estimates, reporting $4.93 EPS against a consensus of $4.36, and analysts predict a FY 2025 EPS of 17.63.

Price T Rowe Associates Inc. MD cut its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 25.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,169,393 shares of the industrial products company's stock after selling 403,488 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.19% of Hubbell worth $386,965,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. purchased a new stake in Hubbell during the first quarter worth $399,000. Erste Asset Management GmbH boosted its position in Hubbell by 0.4% during the first quarter. Erste Asset Management GmbH now owns 19,281 shares of the industrial products company's stock worth $6,411,000 after purchasing an additional 76 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Hubbell by 49.3% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,554 shares of the industrial products company's stock worth $1,490,000 after purchasing an additional 1,503 shares in the last quarter. Groupama Asset Managment boosted its position in Hubbell by 16.9% during the first quarter. Groupama Asset Managment now owns 12,660 shares of the industrial products company's stock worth $4,203,000 after purchasing an additional 1,828 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Hubbell by 14.9% during the first quarter. Hsbc Holdings PLC now owns 114,547 shares of the industrial products company's stock worth $37,728,000 after purchasing an additional 14,877 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Down 0.1%

NYSE:HUBB traded down $0.23 on Thursday, hitting $445.84. 158,428 shares of the stock were exchanged, compared to its average volume of 620,805. The stock has a market cap of $23.69 billion, a PE ratio of 28.95, a PEG ratio of 2.48 and a beta of 0.99. 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 stock has a fifty day moving average of $423.45 and a 200-day moving average of $384.30. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week 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, beating analysts' consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%.The business had revenue of $1.48 billion during the quarter, compared to analyst estimates 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 business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell's dividend payout ratio (DPR) is 34.29%.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays boosted their target price on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. upped 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. Finally, Wells Fargo & Company upped their price objective on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Hubbell has an average rating of "Hold" and a consensus target price 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.