New York Life Investment Management LLC Grows Stake in Hubbell Inc $HUBB

New York Life Investment Management LLC boosted its position in Hubbell Inc (NYSE:HUBB) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,328 shares of the industrial products company’s stock after purchasing an additional 102 shares during the period. New York Life Investment Management LLC’s holdings in Hubbell were worth $2,993,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HUBB. Nuveen LLC purchased a new position in Hubbell in the 1st quarter valued at approximately $213,283,000. Adage Capital Partners GP L.L.C. grew its position in shares of Hubbell by 181.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after purchasing an additional 628,886 shares during the last quarter. Mirova US LLC acquired a new stake in shares of Hubbell in the second quarter valued at approximately $139,386,000. Deutsche Bank AG grew its position in shares of Hubbell by 35.1% in the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock valued at $365,353,000 after purchasing an additional 287,047 shares during the last quarter. Finally, Parnassus Investments LLC acquired a new stake in shares of Hubbell in the first quarter valued at approximately $57,432,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

HUBB stock opened at $469.40 on Friday. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $484.26. The stock’s fifty day simple moving average is $433.47 and its 200-day simple moving average is $409.66. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 2.60 and a beta of 0.96.

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

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date is Friday, November 28th. Hubbell’s payout ratio is 35.24%.

Analysts Set New Price Targets

Several analysts have recently commented on HUBB shares. Wall Street Zen lowered shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 25th. Wells Fargo & Company increased their price target on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday. Stephens reiterated an “overweight” rating and issued a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Finally, Mizuho increased their price target on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $486.00.

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.