Raymond James Financial Inc. Lowers Holdings in Hubbell Inc $HUBB

Key Points

• Raymond James Financial Inc. reduced its holdings in Hubbell Inc by 6.8%, owning 141,546 shares valued at approximately $46.84 million after selling 10,396 shares.
• Hubbell reported a quarterly earnings per share of $4.93, surpassing analysts' expectations of $4.36, and has set its fiscal year 2025 guidance between $17.650 - $18.15 EPS.
• Multiple analysts have raised their price targets for Hubbell, with Wells Fargo setting a target of $445 and JPMorgan Chase raising it to $417, indicating generally positive sentiment towards the stock.

Raymond James Financial Inc. trimmed its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,546 shares of the industrial products company's stock after selling 10,396 shares during the quarter. Raymond James Financial Inc. owned approximately 0.27% of Hubbell worth $46,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nissay Asset Management Corp Japan ADV grew its position in Hubbell by 0.4% during 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 acquiring an additional 26 shares during the last quarter. Horizon Investments LLC lifted its holdings in Hubbell by 5.0% in the 1st quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock worth $255,000 after buying an additional 37 shares during the period. Abundance Wealth Counselors lifted 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 buying an additional 41 shares during the period. Utah Retirement Systems lifted its holdings in Hubbell by 0.5% in the 4th quarter. Utah Retirement Systems now owns 8,857 shares of the industrial products company's stock worth $3,710,000 after buying an additional 48 shares during the period. Finally, Vestcor Inc lifted 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 buying an additional 50 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Hubbell Stock Up 1.0%

Shares of HUBB traded up $4.21 on Wednesday, reaching $446.73. The stock had a trading volume of 334,378 shares, compared to its average volume of 497,360. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The company has a 50-day simple moving average of $423.45 and a 200-day simple moving average of $384.30. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating 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 return on equity of 27.63% and a net margin of 14.76%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Sell-side analysts predict that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business 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 dividend of $1.32 per share. The ex-dividend date is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. Hubbell's 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.