Hubbell Inc $HUBB Shares Bought by Smith Group Asset Management LLC

Smith Group Asset Management LLC lifted its position in Hubbell Inc (NYSE:HUBB) by 2.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 71,360 shares of the industrial products company’s stock after acquiring an additional 1,974 shares during the period. Hubbell makes up 1.9% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Smith Group Asset Management LLC’s holdings in Hubbell were worth $29,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in HUBB. Central Pacific Bank Trust Division acquired a new position in shares of Hubbell in the 2nd quarter worth approximately $29,000. Tsfg LLC acquired a new position in Hubbell during the 1st quarter valued at approximately $30,000. Cullen Frost Bankers Inc. boosted its position in Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 68 shares during the period. Ransom Advisory Ltd acquired a new position in Hubbell during the 1st quarter valued at approximately $53,000. Finally, Groupe la Francaise acquired a new position in Hubbell during the 1st quarter valued at approximately $57,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Up 2.4%

Shares of Hubbell stock opened at $432.64 on Friday. The business’s fifty day moving average price is $431.14 and its two-hundred day moving average price is $405.24. 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 company has a market capitalization of $22.99 billion, a P/E ratio of 28.09, a PEG ratio of 2.36 and a beta of 0.96. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%.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. As a group, research analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on HUBB shares. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded Hubbell from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Finally, Mizuho lifted their target price on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and an average target price 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.