Wellington Management Group LLP Has $43.85 Million Holdings in Hubbell Inc $HUBB

Key Points

• Wellington Management Group LLP decreased its stake in Hubbell Inc by 7.2%, selling 10,307 shares and owning 132,499 shares worth approximately $43.845 million.
• Analysts have recently increased their price targets for Hubbell, with Wells Fargo raising it from $420.00 to $445.00 and Barclays adjusting it from $420.00 to $431.00, while maintaining an "equal weight" rating.
• Hubbell announced a quarterly dividend of $1.32 per share, with an annualized dividend yield of 1.2% and a payout ratio of 34.29%.

Wellington Management Group LLP reduced its position in Hubbell Inc (NYSE:HUBB - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,499 shares of the industrial products company's stock after selling 10,307 shares during the quarter. Wellington Management Group LLP owned approximately 0.25% of Hubbell worth $43,845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV increased its holdings in Hubbell by 0.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock valued at $2,757,000 after buying an additional 26 shares during the last quarter. Horizon Investments LLC lifted its holdings in Hubbell by 5.0% in the first quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock worth $255,000 after acquiring an additional 37 shares during the last quarter. Abundance Wealth Counselors lifted its holdings in Hubbell by 1.6% in the first quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock worth $851,000 after acquiring an additional 41 shares during the last quarter. Utah Retirement Systems lifted its holdings in Hubbell by 0.5% in the fourth quarter. Utah Retirement Systems now owns 8,857 shares of the industrial products company's stock worth $3,710,000 after acquiring an additional 48 shares during the last quarter. Finally, Vestcor Inc lifted its holdings in Hubbell by 2.4% in the first quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock worth $710,000 after acquiring an additional 50 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Down 0.2%

NYSE HUBB traded down $0.84 on Thursday, hitting $445.23. 295,440 shares of the company were exchanged, compared to its average volume of 621,758. The company's 50 day moving average price is $423.45 and its 200-day moving average price is $384.30. 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 firm has a market capitalization of $23.66 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35.

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 (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell's dividend payout ratio is presently 34.29%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HUBB. Wells Fargo & Company raised their target price on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Barclays raised their target price 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. JPMorgan Chase & Co. upped their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Hubbell has an average rating of "Hold" and a consensus price target of $462.29.

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.