Venturi Wealth Management LLC Invests $490,000 in Hubbell Inc $HUBB

Key Points

• Venturi Wealth Management LLC has made a significant investment of approximately $490,000 in Hubbell Inc, purchasing 1,200 shares of the company during the second quarter.
• Hubbell reported earnings of $4.93 EPS for the last quarter, exceeding analysts' estimates, and is projected to have a FY 2025 EPS guidance of 17.650-18.15.
• The company has recently declared a quarterly dividend of $1.32, which reflects an annualized yield of 1.3% and a payout ratio of 34.29%.

Venturi Wealth Management LLC purchased a new position in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,200 shares of the industrial products company's stock, valued at approximately $490,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new position in Hubbell in the 2nd quarter valued at approximately $29,000. Tsfg LLC acquired a new stake in shares of Hubbell during the first quarter worth $30,000. CX Institutional acquired a new stake in shares of Hubbell during the first quarter worth $49,000. NBC Securities Inc. bought a new position in Hubbell during the first quarter worth $49,000. Finally, Ransom Advisory Ltd bought a new position in Hubbell during the first quarter worth $53,000. Institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $418.76 on Friday. The company has a 50 day moving average of $431.33 and a 200 day moving average of $398.80. The stock has a market cap of $22.25 billion, a P/E ratio of 27.19, a P/E/G ratio of 2.35 and a beta of 0.96. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. 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 issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The company 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. As a group, sell-side analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 29th. Hubbell's payout ratio is currently 34.29%.

Analyst Ratings Changes

HUBB has been the topic of several research analyst reports. Barclays increased their target price on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Stephens reissued an "overweight" rating and set a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Hubbell in a research report on Wednesday. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Finally, Wall Street Zen raised shares of Hubbell from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Hubbell presently has a consensus rating of "Moderate Buy" and a consensus target price of $472.63.

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.

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