Freestone Capital Holdings LLC Sells 338 Shares of Hubbell Inc $HUBB

Freestone Capital Holdings LLC reduced its stake in Hubbell Inc (NYSE:HUBB) by 30.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 764 shares of the industrial products company’s stock after selling 338 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Hubbell were worth $312,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HUBB. Regal Partners Ltd bought a new stake in Hubbell during the 2nd quarter worth about $261,000. Bordeaux Wealth Advisors LLC lifted its position in Hubbell by 5.0% during the 2nd quarter. Bordeaux Wealth Advisors LLC now owns 635 shares of the industrial products company’s stock worth $259,000 after buying an additional 30 shares in the last quarter. Simon Quick Advisors LLC lifted its position in Hubbell by 0.5% during the 2nd quarter. Simon Quick Advisors LLC now owns 24,008 shares of the industrial products company’s stock worth $9,805,000 after buying an additional 126 shares in the last quarter. Hutchinson Capital Management CA bought a new stake in Hubbell during the 2nd quarter worth about $12,715,000. Finally, Atria Investments Inc lifted its position in Hubbell by 91.2% during the 2nd quarter. Atria Investments Inc now owns 2,853 shares of the industrial products company’s stock worth $1,165,000 after buying an additional 1,361 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $459.53 on Wednesday. The company’s 50 day moving average price is $435.01 and its two-hundred day moving average price is $413.21. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $484.26. The firm has a market cap of $24.42 billion, a PE ratio of 28.51, a PEG ratio of 2.60 and a beta of 0.96. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Equities research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.2%. This is an increase from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Friday, November 28th. Hubbell’s payout ratio is presently 35.24%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research note on Thursday, September 11th. Mizuho boosted their price objective on shares of Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $477.83.

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.