Smith Group Asset Management LLC Grows Stock Position in Hubbell Inc $HUBB

Key Points

• Smith Group Asset Management LLC increased its stake in Hubbell Inc by 2.8%, owning 71,360 shares valued at approximately $29.1 million, representing 1.9% of its portfolio.
• Several analysts have upgraded their ratings on Hubbell, with price targets ranging from $431.00 to $500.00, indicating a favorable outlook for the stock.
• Hubbell reported earnings of $4.93 per share in its last quarter, surpassing estimates, with a FY 2025 guidance of $17.650-18.15 EPS.

Smith Group Asset Management LLC raised its position in Hubbell Inc (NYSE:HUBB - Free Report) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,360 shares of the industrial products company's stock after purchasing an additional 1,974 shares during the quarter. Hubbell accounts for approximately 1.9% of Smith Group Asset Management LLC's portfolio, making the stock its 22nd largest holding. Smith Group Asset Management LLC owned about 0.13% of Hubbell worth $29,144,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new position in shares of Hubbell in the 2nd quarter worth about $29,000. Tsfg LLC purchased a new position in shares of Hubbell in the 1st quarter worth about $30,000. Cullen Frost Bankers Inc. raised its holdings in shares of Hubbell by 400.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company's stock worth $35,000 after purchasing an additional 68 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Hubbell in the 1st quarter worth about $53,000. Finally, Groupe la Francaise purchased a new position in shares of Hubbell in the 1st quarter worth about $57,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on HUBB. Barclays raised 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. Wall Street Zen upgraded Hubbell from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. Stephens reiterated an "overweight" rating and set a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $445.00 to $490.00 in a report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $476.50.

Hubbell Price Performance

Shares of NYSE HUBB opened at $432.64 on Friday. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The business has a 50 day moving average price of $431.14 and a two-hundred day moving average price of $405.24. 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 $22.99 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96.

Hubbell (NYSE:HUBB - Get Free Report) last issued 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 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 analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Sell-side analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

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.

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