Resona Asset Management Co. Ltd. Raises Stock Holdings in Hubbell Inc $HUBB

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Hubbell Inc by 5.6%, holding 16,781 shares valued at $5,556,000 as of the latest SEC filing.
• Hubbell reported a quarterly earnings per share (EPS) of $4.93, surpassing analysts' expectations of $4.36, with a revenue of $1.48 billion.
• The company will pay a quarterly dividend of $1.32 on September 15th, resulting in an annualized dividend yield of 1.2%.

Resona Asset Management Co. Ltd. raised its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,781 shares of the industrial products company's stock after acquiring an additional 888 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Hubbell were worth $5,556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Nuveen LLC purchased a new position in shares of Hubbell during the 1st quarter valued at about $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 valued at $365,353,000 after buying an additional 287,047 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in shares of Hubbell during the 4th quarter valued at about $95,868,000. GAMMA Investing LLC raised its holdings in shares of Hubbell by 52,429.8% during the 1st quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after buying an additional 191,893 shares in the last quarter. Finally, PointState Capital LP purchased a new position in shares of Hubbell during the 4th quarter valued at about $78,443,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

NYSE:HUBB traded down $5.9520 during mid-day trading on Wednesday, hitting $426.8580. 136,690 shares of the company traded hands, compared to its average volume of 630,152. The stock's fifty day moving average price is $417.80 and its 200-day moving average price is $382.66. Hubbell Inc has a one year low of $299.42 and a one year high of $481.35. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The firm has a market cap of $22.68 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99.

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 (EPS) 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 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. Research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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 given 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 dividend payout ratio is 34.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HUBB. JPMorgan Chase & Co. raised their price objective on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wells Fargo & Company lifted their price objective on Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Barclays lifted their price target on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. 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.com, Hubbell currently has an average rating of "Hold" and a consensus price target of $462.29.

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.