Apollon Wealth Management LLC Acquires New Stake in Hubbell Inc $HUBB

Apollon Wealth Management LLC acquired a new stake in Hubbell Inc (NYSE:HUBB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 566 shares of the industrial products company’s stock, valued at approximately $231,000.

A number of other large investors have also modified their holdings of HUBB. Bank of New York Mellon Corp lifted its stake in shares of Hubbell by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company’s stock worth $937,623,000 after buying an additional 7,142 shares in the last quarter. Invesco Ltd. raised its holdings in Hubbell by 2.1% in the 1st quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company’s stock valued at $503,757,000 after acquiring an additional 31,859 shares during the last quarter. Deutsche Bank AG lifted its stake in Hubbell by 35.1% in the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock worth $365,353,000 after purchasing an additional 287,047 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Hubbell by 181.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after purchasing an additional 628,886 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Hubbell during the 1st quarter worth approximately $213,283,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded Hubbell from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Finally, Barclays raised their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $476.50.

Hubbell Trading Down 0.6%

NYSE 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. The stock has a market capitalization of $22.66 billion, a P/E ratio of 27.69, a PEG ratio of 2.38 and a beta of 0.96. The firm’s 50-day moving average is $431.33 and its two-hundred day moving average is $402.71. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings results 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 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. On average, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 29th. Hubbell’s dividend payout ratio is 34.29%.

About Hubbell

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.