TT International Asset Management LTD Cuts Stock Holdings in Hubbell Inc $HUBB

Key Points

• TT International Asset Management LTD decreased its holdings in Hubbell Inc by 15.7%, now owning 3,452 shares valued at approximately $1.41 million.
• Hubbell received multiple analyst upgrades, with a current average rating of "Moderate Buy" and a target price of around $472.63.
• The company recently announced a quarterly dividend of $1.32 per share, reflecting a 1.2% annual yield with a payout ratio of 34.29%.

TT International Asset Management LTD reduced its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 15.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,452 shares of the industrial products company's stock after selling 644 shares during the period. TT International Asset Management LTD's holdings in Hubbell were worth $1,410,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HUBB. Nuveen LLC purchased a new stake in shares of Hubbell during the 1st quarter worth $213,283,000. Adage Capital Partners GP L.L.C. increased its stake in Hubbell by 181.6% in the first 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 period. Deutsche Bank AG increased its stake in Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock valued at $365,353,000 after purchasing an additional 287,047 shares during the period. GAMMA Investing LLC increased its stake in Hubbell by 52,429.8% in the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after purchasing an additional 191,893 shares during the period. Finally, Parnassus Investments LLC purchased a new position in Hubbell during the first quarter worth about $57,432,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HUBB has been the subject of several analyst reports. Stephens reissued an "overweight" rating and set a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays upped their target price 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. Finally, Wells Fargo & Company upgraded 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 report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $472.63.

Hubbell Trading Down 0.6%

NYSE HUBB traded down $2.65 during mid-day trading on Monday, reaching $438.79. 629,595 shares of the stock were exchanged, compared to its average volume of 456,193. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The business's fifty day simple moving average is $433.46 and its 200 day simple moving average is $392.04. The stock has a market capitalization of $23.32 billion, a PE ratio of 28.49, a PEG 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 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 net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. On average, research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $1.32 per share. The ex-dividend date 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 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.