Ethic Inc. Has $5.26 Million Stock Position in Hubbell Inc $HUBB

Ethic Inc. boosted its stake in shares of Hubbell Inc (NYSE:HUBB) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,938 shares of the industrial products company’s stock after buying an additional 863 shares during the period. Ethic Inc.’s holdings in Hubbell were worth $5,261,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HUBB. Nuveen LLC acquired a new stake in Hubbell during the 1st quarter worth approximately $213,283,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Hubbell by 181.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after purchasing an additional 628,886 shares during the last quarter. Mirova US LLC acquired a new stake in shares of Hubbell in the second quarter valued at approximately $139,386,000. Deutsche Bank AG raised its holdings in shares of Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock valued at $365,353,000 after purchasing an additional 287,047 shares during the last quarter. Finally, Parnassus Investments LLC acquired a new stake in shares of Hubbell in the first quarter valued at approximately $57,432,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

NYSE:HUBB opened at $432.64 on Friday. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $431.14 and a 200 day simple moving average of $405.24. The stock has a market capitalization of $22.99 billion, a PE ratio of 28.09, a P/E/G ratio of 2.36 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HUBB shares. Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Mizuho lifted their price objective on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus price target of $476.50.

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.