Sequoia Financial Advisors LLC Raises Stock Position in Hubbell Inc $HUBB

Key Points

• Sequoia Financial Advisors LLC increased its stake in Hubbell Inc by 3.2% during the second quarter, holding approximately 0.07% of the company, valued at $14.88 million.
• The stock has gained 2.4% recently, trading at $418.28, with a 1-year high of $481.35 and a consensus price target of $472.63 from analysts.
• Hubbell recently reported quarterly earnings of $4.93 per share, surpassing analyst expectations, and declared a quarterly dividend of $1.32.

Sequoia Financial Advisors LLC grew its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 3.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,426 shares of the industrial products company's stock after buying an additional 1,119 shares during the period. Sequoia Financial Advisors LLC owned approximately 0.07% of Hubbell worth $14,877,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HUBB. Nuveen LLC purchased a new position in shares of Hubbell in the 1st quarter worth $213,283,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Hubbell by 181.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company's stock worth $322,702,000 after purchasing an additional 628,886 shares during the period. Mirova US LLC purchased a new position in shares of Hubbell during the 2nd quarter worth about $139,386,000. Deutsche Bank AG boosted its stake 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 worth $365,353,000 after purchasing an additional 287,047 shares during the period. Finally, Parnassus Investments LLC purchased a new position in shares of Hubbell during the 1st quarter worth about $57,432,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Trading Up 2.4%

Shares of HUBB opened at $418.28 on Tuesday. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The company has a 50-day moving average of $430.75 and a 200 day moving average of $400.55. The firm has a market capitalization of $22.23 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.28 and a beta of 0.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, beating analysts' consensus estimates of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The company 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. On average, research analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $1.32 dividend. The ex-dividend date was Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.3%. Hubbell's payout ratio is currently 34.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HUBB. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Hubbell in a research note on Wednesday, October 8th. Barclays lifted their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Hubbell from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, Stephens reaffirmed an "overweight" rating and set a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $472.63.

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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