Hubbell Inc $HUBB Stock Holdings Trimmed by US Bancorp DE

US Bancorp DE reduced its position in Hubbell Inc (NYSE:HUBB) by 0.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 24,709 shares of the industrial products company’s stock after selling 225 shares during the period. US Bancorp DE’s holdings in Hubbell were worth $10,091,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Belpointe Asset Management LLC bought a new position in shares of Hubbell during the second quarter valued at approximately $320,000. Venturi Wealth Management LLC acquired a new stake in Hubbell in the second quarter worth approximately $490,000. Teacher Retirement System of Texas lifted its position in Hubbell by 1,462.9% in the first quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company’s stock worth $2,596,000 after purchasing an additional 7,344 shares during the period. Private Trust Co. NA lifted its position in Hubbell by 60.4% in the first quarter. Private Trust Co. NA now owns 292 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 110 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its position in Hubbell by 29.6% in the first quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 360 shares during the period. 88.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

HUBB has been the subject of a number of research analyst reports. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Barclays upped their target price on Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. 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 research report on Tuesday, September 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday. Finally, Stephens reissued an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research note on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $472.63.

Hubbell Stock Performance

HUBB opened at $408.50 on Friday. The business has a fifty day simple moving average of $430.98 and a 200-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 Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The firm has a market cap of $21.71 billion, a PE ratio of 26.53, a P/E/G ratio of 2.28 and a beta of 0.96.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, beating the consensus estimate of $4.36 by $0.57. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, equities analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared 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. This represents a $5.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 29th. Hubbell’s payout ratio 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.