TD Asset Management Inc Raises Holdings in Hubbell Inc $HUBB

Key Points

• TD Asset Management Inc increased its holdings in Hubbell Inc by 5.8%, owning 23,438 shares worth $9.57 million as of the latest SEC filing.
• Hubbell reported earnings of $4.93 per share, surpassing estimates, and set FY 2025 guidance at 17.65-18.15 EPS.
• The company recently paid a quarterly dividend of $1.32 per share, reflecting an annualized dividend of $5.28 and a yield of 1.2%.

TD Asset Management Inc lifted its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,438 shares of the industrial products company's stock after purchasing an additional 1,287 shares during the period. TD Asset Management Inc's holdings in Hubbell were worth $9,572,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HUBB. Nuveen LLC purchased a new position in shares of Hubbell during the 1st quarter worth approximately $213,283,000. Adage Capital Partners GP L.L.C. boosted its position in Hubbell by 181.6% during the first 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 acquiring an additional 628,886 shares during the last quarter. Mirova US LLC acquired a new stake in Hubbell during the second quarter worth approximately $139,386,000. Deutsche Bank AG boosted its position in Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after acquiring an additional 287,047 shares during the last quarter. Finally, Parnassus Investments LLC acquired a new stake in Hubbell during the first quarter worth approximately $57,432,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Performance

NYSE:HUBB opened at $426.44 on Monday. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $22.66 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.38 and a beta of 0.96. The firm's fifty day simple moving average is $431.33 and its 200 day simple moving average is $403.28. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted 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. The business had revenue of $1.48 billion for 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. As a group, equities research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HUBB shares. Wall Street Zen upgraded shares of Hubbell from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Mizuho raised their target price on shares of Hubbell from $475.00 to $480.00 and gave the stock an "outperform" rating in a research report on Friday. Barclays lifted their price target on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $445.00 to $490.00 in a report on Tuesday, September 2nd. Finally, Stephens reiterated an "overweight" rating and issued a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $476.50.

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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