AdvisorNet Financial Inc Has $179,000 Stake in Hubbell Inc $HUBB

AdvisorNet Financial Inc trimmed its stake in shares of Hubbell Inc (NYSE:HUBB) by 9.9% during the second quarter, Holdings Channel.com reports. The firm owned 439 shares of the industrial products company’s stock after selling 48 shares during the period. AdvisorNet Financial Inc’s holdings in Hubbell were worth $179,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in shares of Hubbell during the second quarter worth approximately $29,000. Tsfg LLC acquired a new position in shares of Hubbell during the first quarter worth approximately $30,000. NBC Securities Inc. acquired a new position in shares of Hubbell during the first quarter worth approximately $49,000. CX Institutional acquired a new position in shares of Hubbell during the first quarter worth approximately $49,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Hubbell during the first quarter worth approximately $53,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Down 2.6%

HUBB opened at $420.01 on Friday. The firm’s fifty day moving average is $433.77 and its two-hundred day moving average is $393.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The firm has a market cap of $22.32 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 2.41 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) last posted its 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 analyst estimates 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. Equities research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 annualized dividend and a yield of 1.3%. Hubbell’s dividend payout ratio (DPR) is 34.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Wells Fargo & Company raised shares of Hubbell from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Wall Street Zen raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Barclays raised their price objective on shares of Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and an average price target of $472.63.

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.