JGP Wealth Management LLC Increases Stock Holdings in Hubbell Inc $HUBB

JGP Wealth Management LLC raised its stake in Hubbell Inc (NYSE:HUBB) by 2.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,227 shares of the industrial products company’s stock after acquiring an additional 50 shares during the period. JGP Wealth Management LLC’s holdings in Hubbell were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of HUBB. Central Pacific Bank Trust Division purchased a new stake in shares of Hubbell in the second quarter valued at approximately $29,000. Tsfg LLC acquired a new position in shares of Hubbell in the first quarter worth $30,000. CX Institutional acquired a new position in shares of Hubbell in the first quarter worth $49,000. Ransom Advisory Ltd acquired a new position in shares of Hubbell in the first quarter worth $53,000. Finally, Groupe la Francaise acquired a new position in Hubbell in the first quarter valued at $57,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HUBB. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Company raised Hubbell from an “equal weight” rating to an “overweight” rating and upped their target price 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 price target on shares of Hubbell in a report on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Barclays increased their target price on Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $472.63.

Hubbell Stock Up 2.0%

HUBB opened at $426.97 on Wednesday. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. 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 cap of $22.69 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.34 and a beta of 0.96. The stock’s 50 day moving average price is $430.73 and its 200 day moving average price is $400.73.

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $1.32 per share. The ex-dividend date was Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is 34.29%.

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.