Hubbell Inc $HUBB Shares Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC raised its holdings in shares of Hubbell Inc (NYSE:HUBB) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 28,692 shares of the industrial products company’s stock after buying an additional 46 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Hubbell were worth $11,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. McKinley Carter Wealth Services Inc. lifted its stake in Hubbell by 16.7% during the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock valued at $8,098,000 after acquiring an additional 2,843 shares during the period. Belpointe Asset Management LLC acquired a new position in shares of Hubbell in the 2nd quarter valued at $320,000. Venturi Wealth Management LLC acquired a new position in shares of Hubbell in the 2nd quarter valued at $490,000. Teacher Retirement System of Texas lifted its stake in shares of Hubbell by 1,462.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company’s stock valued at $2,596,000 after purchasing an additional 7,344 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Hubbell in the 1st quarter valued at $1,423,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

Hubbell stock opened at $426.44 on Monday. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35. The firm has a market capitalization of $22.66 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.38 and a beta of 0.96. The company has a fifty day simple moving average of $431.33 and a 200-day simple moving average of $403.28. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. On average, equities analysts anticipate 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. Investors of record on Friday, August 29th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is currently 34.29%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HUBB. Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. Wells Fargo & Company upgraded shares of Hubbell from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average price target of $476.50.

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.