Steigerwald Gordon & Koch Inc. Invests $237,000 in Hubbell Inc $HUBB

Key Points

• Steigerwald Gordon & Koch Inc. invested $237,000 in Hubbell Inc. by purchasing 580 shares in the second quarter, indicating strong interest from institutional investors as 88.16% of the company's stock is now owned by them.
• Hubbell has received multiple upgrades from analysts, with price targets rising to as high as $500.00, reflecting positive sentiment and a consensus rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $1.32, yielding 1.2% annually, with a current pay-out ratio of 34.29%, showing financial stability amidst growth projections.

Steigerwald Gordon & Koch Inc. purchased a new position in Hubbell Inc (NYSE:HUBB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 580 shares of the industrial products company's stock, valued at approximately $237,000.

Other institutional investors also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in shares of Hubbell in the second quarter worth approximately $29,000. Tsfg LLC bought a new position in shares of Hubbell in the first quarter worth approximately $30,000. NBC Securities Inc. bought a new position in shares of Hubbell in the first quarter worth approximately $49,000. CX Institutional bought a new position in shares of Hubbell in the first quarter worth approximately $49,000. Finally, Ransom Advisory Ltd bought a new position in shares of Hubbell in the first quarter worth approximately $53,000. 88.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on HUBB shares. Barclays upped their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Stephens reiterated an "overweight" rating and set a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Hubbell has a consensus rating of "Moderate Buy" and a consensus price target of $472.63.

Hubbell Stock Down 0.6%

Shares of Hubbell stock opened at $438.79 on Tuesday. The company's 50 day moving average price is $433.46 and its 200-day moving average price is $392.04. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. The stock has a market capitalization of $23.32 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 2.47 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.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping 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 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. Equities research analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. Hubbell's dividend payout ratio (DPR) is presently 34.29%.

Hubbell Company 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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