Shell Asset Management Co. Has $1.43 Million Holdings in Hubbell Inc $HUBB

Shell Asset Management Co. grew its position in Hubbell Inc (NYSE:HUBB - Free Report) by 133.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,498 shares of the industrial products company's stock after purchasing an additional 1,997 shares during the period. Shell Asset Management Co.'s holdings in Hubbell were worth $1,429,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HUBB. Central Pacific Bank Trust Division acquired a new position in Hubbell in the 2nd quarter worth about $29,000. Tsfg LLC acquired a new position in Hubbell in the 1st quarter worth about $30,000. CX Institutional acquired a new position in Hubbell in the 1st quarter worth about $49,000. NBC Securities Inc. bought a new stake in shares of Hubbell during the 1st quarter worth about $49,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Hubbell during the 1st quarter worth about $53,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $419.96 on Thursday. The business has a 50 day moving average price of $431.72 and a 200 day moving average price of $398.32. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The company has a market cap of $22.32 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 2.31 and a beta of 0.96. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $1.32 dividend. The ex-dividend date was Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.3%. Hubbell's dividend payout ratio (DPR) is currently 34.29%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HUBB. Wall Street Zen upgraded Hubbell from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Hubbell in a research note on Wednesday. Barclays upped their price target on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Finally, Stephens reiterated an "overweight" rating and set a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $472.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.