DekaBank Deutsche Girozentrale Reduces Stock Holdings in Hubbell Inc $HUBB

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Hubbell Inc (NYSE:HUBB) by 0.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,199 shares of the industrial products company’s stock after selling 28 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Hubbell were worth $40,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stephens Inc. AR grew its position in shares of Hubbell by 6.8% during the 2nd quarter. Stephens Inc. AR now owns 1,819 shares of the industrial products company’s stock valued at $743,000 after acquiring an additional 116 shares during the period. Empirical Asset Management LLC bought a new stake in Hubbell during the second quarter valued at about $576,000. Stableford Capital II LLC purchased a new stake in Hubbell in the second quarter worth about $1,369,000. JGP Wealth Management LLC increased its position in Hubbell by 2.3% in the second quarter. JGP Wealth Management LLC now owns 2,227 shares of the industrial products company’s stock worth $910,000 after buying an additional 50 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Hubbell by 22.5% in the second quarter. Boston Trust Walden Corp now owns 368,660 shares of the industrial products company’s stock worth $150,565,000 after buying an additional 67,686 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE HUBB opened at $435.50 on Wednesday. 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 stock has a market capitalization of $23.14 billion, a PE ratio of 28.28, a P/E/G ratio of 2.41 and a beta of 0.96. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The business has a 50 day simple moving average of $431.68 and a two-hundred day simple moving average of $404.31.

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

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $1.32 dividend. The ex-dividend date was Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s payout ratio is 34.29%.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of recent research reports. Wells Fargo & Company upgraded Hubbell from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $445.00 to $490.00 in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Mizuho lifted their target price on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Barclays boosted their price target on Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $476.50.

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.