T. Rowe Price Investment Management Inc. Purchases New Shares in Hubbell Inc $HUBB

Key Points

• T. Rowe Price Investment Management Inc. acquired a new stake in Hubbell Inc, purchasing 1,205 shares valued at approximately $399,000 during the first quarter.
• Hubbell announced a quarterly dividend of $1.32 per share, which will be paid on September 15th, representing an annualized payout of $5.28 and a dividend yield of 1.2%.
• The company's stock, which has an EPS of $4.93 for the last quarter, saw price target upgrades from analysts, including JPMorgan raising it to $417.00.

T. Rowe Price Investment Management Inc. purchased a new position in Hubbell Inc (NYSE:HUBB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,205 shares of the industrial products company's stock, valued at approximately $399,000.

Other institutional investors also recently bought and sold shares of the company. Tsfg LLC purchased a new stake in shares of Hubbell during the 1st quarter valued at about $30,000. Johnson Financial Group Inc. boosted its holdings in shares of Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 65 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Hubbell during the 1st quarter valued at about $49,000. CX Institutional purchased a new stake in shares of Hubbell during the 1st quarter valued at about $49,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Hubbell during the 1st quarter valued at about $66,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

HUBB traded down $14.62 during trading hours on Friday, hitting $431.18. The company's stock had a trading volume of 579,237 shares, compared to its average volume of 622,682. The business's 50-day moving average price is $424.39 and its 200-day moving average price is $384.62. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.50 and a beta of 0.99. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.36 by $0.57. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. 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.

Hubbell Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wells Fargo & Company raised their price objective on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Barclays raised their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Hubbell currently has an average rating of "Hold" and an average 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.