Bahl & Gaynor Inc. Purchases 50,188 Shares of Hubbell Inc $HUBB

Bahl & Gaynor Inc. grew its position in Hubbell Inc (NYSE:HUBB) by 31.8% in the first quarter, HoldingsChannel.com reports. The firm owned 208,098 shares of the industrial products company’s stock after acquiring an additional 50,188 shares during the period. Bahl & Gaynor Inc.’s holdings in Hubbell were worth $68,862,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tsfg LLC bought a new position in shares of Hubbell in the first quarter worth approximately $30,000. Johnson Financial Group Inc. boosted its position in shares of Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 65 shares during the last quarter. CX Institutional bought a new position in shares of Hubbell during the first quarter worth $49,000. NBC Securities Inc. bought a new position in shares of Hubbell during the first quarter worth $49,000. Finally, Groupe la Francaise bought a new position in shares of Hubbell during the first quarter worth $57,000. 88.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of research reports. Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. 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. Wells Fargo & Company upped their target price on shares of Hubbell from $420.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Hubbell currently has an average rating of “Hold” and an average price target of $462.29.

Hubbell Price Performance

Hubbell stock opened at $440.29 on Friday. The company has a market cap of $23.40 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 2.39 and a beta of 0.99. The firm’s fifty day moving average is $420.53 and its 200 day moving average is $383.39. 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 52-week low of $299.42 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating 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 company 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. Sell-side analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is currently 34.29%.

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.