Washington Capital Management Inc. Takes Position in Hubbell Inc $HUBB

Key Points

• Washington Capital Management Inc. acquired a new stake in Hubbell Inc, purchasing 1,200 shares valued at approximately $490,000 in the second quarter.
• Hubbell's stock increased by 1.2% and has a market capitalization of $22.61 billion, with a price-to-earnings ratio of 27.63.
• The company reported $4.93 earnings per share for its last quarter, exceeding analysts' expectations of $4.36, while revenue was slightly below forecasts at $1.48 billion.

Washington Capital Management Inc. acquired a new stake in Hubbell Inc (NYSE:HUBB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,200 shares of the industrial products company's stock, valued at approximately $490,000.

Other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas increased its holdings in shares of Hubbell by 1,462.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock valued at $2,596,000 after acquiring an additional 7,344 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Hubbell by 60.4% in the 1st quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock valued at $97,000 after acquiring an additional 110 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Hubbell by 29.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company's stock valued at $522,000 after acquiring an additional 360 shares during the last quarter. Beacon Financial Group purchased a new position in shares of Hubbell in the 2nd quarter valued at about $262,000. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Hubbell in the 1st quarter valued at about $1,423,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Up 1.2%

Hubbell stock opened at $425.45 on Monday. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The stock has a 50 day moving average of $433.67 and a two-hundred day moving average of $394.60. 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 stock has a market capitalization 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 (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share 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 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, research analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Hubbell's dividend payout ratio (DPR) is presently 34.29%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HUBB. Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $445.00 to $490.00 in a report on Tuesday, September 2nd. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Stephens reissued an "overweight" rating and issued a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Finally, Barclays upped their target price on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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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