Thurston Springer Miller Herd & Titak Inc. Increases Stock Position in Hubbell Inc $HUBB

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Hubbell Inc by 26.8%, owning $1.20 million worth of shares after purchasing an additional 622 shares.
• Wall Street analysts have upgraded Hubbell’s stock ratings, with an average price target now at $472.63, indicating a positive outlook for the company.
• Hubbell recently reported quarterly earnings of $4.93 per share, surpassing analysts' expectations and projecting a fiscal year 2025 guidance of 17.650-18.15 EPS.

Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 26.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,947 shares of the industrial products company's stock after acquiring an additional 622 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Hubbell were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Hubbell during the first quarter valued at approximately $213,283,000. Adage Capital Partners GP L.L.C. grew its holdings in Hubbell by 181.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company's stock valued at $322,702,000 after purchasing an additional 628,886 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Hubbell by 35.1% in the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after purchasing an additional 287,047 shares during the period. GAMMA Investing LLC lifted its position in Hubbell by 52,429.8% during the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after acquiring an additional 191,893 shares during the last quarter. Finally, Parnassus Investments LLC purchased a new position in shares of Hubbell during the first quarter worth $57,432,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Down 0.1%

NYSE HUBB traded down $0.52 on Friday, hitting $439.59. 102,205 shares of the company were exchanged, compared to its average volume of 608,915. The firm has a market capitalization of $23.36 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. 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's 50 day moving average price is $432.55 and its 200-day moving average price is $390.26.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (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 firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Analysts predict 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 paid a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's dividend payout ratio (DPR) is currently 34.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Stephens reiterated an "overweight" rating and set a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Finally, Barclays boosted their price target 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. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Hubbell has an average rating of "Moderate Buy" and a consensus target price of $472.63.

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.