New York State Teachers Retirement System Sells 405 Shares of Hubbell Inc $HUBB

New York State Teachers Retirement System lessened its holdings in Hubbell Inc (NYSE:HUBB) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,451 shares of the industrial products company’s stock after selling 405 shares during the period. New York State Teachers Retirement System’s holdings in Hubbell were worth $18,563,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HUBB. Central Pacific Bank Trust Division bought a new position in shares of Hubbell in the 2nd quarter worth approximately $29,000. Tsfg LLC purchased a new stake in Hubbell in the 1st quarter worth approximately $30,000. Ransom Advisory Ltd purchased a new stake in Hubbell in the 1st quarter worth approximately $53,000. Groupe la Francaise purchased a new stake in Hubbell in the 1st quarter worth approximately $57,000. Finally, Intact Investment Management Inc. purchased a new stake in Hubbell in the 1st quarter worth approximately $66,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 0.6%

Shares of HUBB opened at $426.44 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. The company has a 50 day simple moving average of $431.33 and a two-hundred day simple moving average of $402.29. The firm has a market cap of $22.66 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96.

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

Hubbell Announces Dividend

The company also recently announced 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. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Hubbell’s dividend payout ratio is currently 34.29%.

Analysts Set New Price Targets

HUBB has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday. Mizuho increased their target price on shares of Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Barclays increased their target price on shares of Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, 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.