Belpointe Asset Management LLC Invests $320,000 in Hubbell Inc $HUBB

Belpointe Asset Management LLC purchased a new position in shares of Hubbell Inc (NYSE:HUBB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 783 shares of the industrial products company’s stock, valued at approximately $320,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in Hubbell in the 1st quarter valued at approximately $49,000. UMB Bank n.a. increased its position in Hubbell by 21.1% in the 1st quarter. UMB Bank n.a. now owns 322 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 56 shares during the period. Farther Finance Advisors LLC increased its position in Hubbell by 360.0% in the 1st quarter. Farther Finance Advisors LLC now owns 460 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 360 shares during the period. GAMMA Investing LLC increased its position in Hubbell by 58.7% in the 1st quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company’s stock valued at $192,000 after acquiring an additional 215 shares during the period. Finally, SG Americas Securities LLC increased its position in Hubbell by 58.9% in the 1st quarter. SG Americas Securities LLC now owns 2,134 shares of the industrial products company’s stock valued at $706,000 after acquiring an additional 791 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on HUBB shares. Wells Fargo & Company upgraded Hubbell from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday. Stephens restated an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Barclays increased their price target on Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $472.63.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $408.50 on Friday. The stock has a fifty day moving average price of $430.98 and a two-hundred day moving average price of $399.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The firm has a market cap of $21.71 billion, a P/E ratio of 26.53, a PEG ratio of 2.34 and a beta of 0.96. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last issued 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. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Research analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.3%. Hubbell’s dividend payout ratio (DPR) is currently 34.29%.

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.