Aberdeen Group plc Sells 56,641 Shares of Hubbell Inc $HUBB

Aberdeen Group plc reduced its position in Hubbell Inc (NYSE:HUBB) by 24.7% in the second quarter, HoldingsChannel.com reports. The firm owned 172,573 shares of the industrial products company’s stock after selling 56,641 shares during the period. Aberdeen Group plc’s holdings in Hubbell were worth $70,460,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HUBB. Nuveen LLC bought a new position in shares of Hubbell in the first quarter worth approximately $213,283,000. Adage Capital Partners GP L.L.C. boosted its position in shares of 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 worth $322,702,000 after purchasing an additional 628,886 shares during the period. Mirova US LLC bought a new position in shares of Hubbell in the second quarter worth approximately $139,386,000. Deutsche Bank AG boosted its position in shares of Hubbell by 35.1% in the first 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. Finally, Parnassus Investments LLC bought a new position in shares of Hubbell in the first quarter worth approximately $57,432,000. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday. Stephens restated an “overweight” rating and set a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. 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. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $472.63.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $408.50 on Friday. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $481.35. The stock has a market capitalization of $21.71 billion, a P/E ratio of 26.53, a PEG ratio of 2.28 and a beta of 0.96. The firm has a fifty day simple moving average of $430.98 and a two-hundred day simple moving average of $399.54. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 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 business 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. On average, analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed 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 dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 34.29%.

About Hubbell

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.