TD Private Client Wealth LLC Increases Stake in Hubbell Inc $HUBB

Key Points

• TD Private Client Wealth LLC significantly increased its stake in Hubbell Inc by 970.1% in Q2, acquiring 824 shares valued at $337,000.
• Hubbell reported a quarterly EPS of $4.93, exceeding estimates, and had a net margin of 14.76% during the quarter.
• The company declared a quarterly dividend of $1.32, resulting in an annualized yield of 1.2% with a dividend payout ratio of 34.29%.

TD Private Client Wealth LLC raised its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 970.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 824 shares of the industrial products company's stock after buying an additional 747 shares during the period. TD Private Client Wealth LLC's holdings in Hubbell were worth $337,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. DB Fitzpatrick & Co Inc boosted its position in Hubbell by 0.6% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company's stock valued at $1,776,000 after buying an additional 26 shares during the period. Horizon Investments LLC boosted its position in Hubbell by 5.0% during the 1st quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock valued at $255,000 after buying an additional 37 shares during the period. Abundance Wealth Counselors boosted its position in Hubbell by 1.6% during the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock valued at $851,000 after buying an additional 41 shares during the period. UMB Bank n.a. boosted its position in Hubbell by 13.7% during the 2nd quarter. UMB Bank n.a. now owns 366 shares of the industrial products company's stock valued at $149,000 after buying an additional 44 shares during the period. Finally, Vestcor Inc boosted its position in Hubbell by 2.4% during the 1st quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock valued at $710,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Up 1.2%

Shares of Hubbell stock opened at $425.45 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The company has a 50-day moving average of $433.67 and a 200 day moving average of $394.16. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.38 and a beta of 0.99. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (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. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Hubbell's dividend payout ratio (DPR) is presently 34.29%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HUBB. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Stephens restated an "overweight" rating and issued a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. 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 report on Friday, August 1st. Finally, 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 report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Hubbell currently has an average rating of "Moderate Buy" and an average target price 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.

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