OLD National Bancorp IN Purchases 296 Shares of Hubbell Inc $HUBB

OLD National Bancorp IN lifted its position in Hubbell Inc (NYSE:HUBB) by 44.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 969 shares of the industrial products company’s stock after acquiring an additional 296 shares during the period. OLD National Bancorp IN’s holdings in Hubbell were worth $396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HUBB. Central Pacific Bank Trust Division bought a new position in shares of Hubbell in the second quarter valued at $29,000. Tsfg LLC bought a new position in Hubbell during the first quarter worth $30,000. CX Institutional bought a new position in Hubbell during the first quarter worth $49,000. NBC Securities Inc. bought a new position in Hubbell during the first quarter worth $49,000. Finally, Ransom Advisory Ltd bought a new position in Hubbell during the first quarter worth $53,000. 88.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on HUBB. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research report on Saturday, September 27th. Wells Fargo & Company raised shares of Hubbell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Stephens reissued an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Finally, Barclays upped their price target 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. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $472.63.

Hubbell Stock Performance

HUBB opened at $412.70 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. The firm has a market cap of $21.93 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The business’s fifty day moving average is $432.07 and its 200-day moving average is $398.17.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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. 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. Sell-side analysts expect that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 was Friday, August 29th. Hubbell’s 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.