Jennison Associates LLC Has $448,000 Position in Hubbell Inc $HUBB

Jennison Associates LLC lowered its holdings in Hubbell Inc (NYSE:HUBB) by 21.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,097 shares of the industrial products company’s stock after selling 298 shares during the quarter. Jennison Associates LLC’s holdings in Hubbell were worth $448,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nuveen LLC acquired a new position in shares of Hubbell during the first quarter valued at $213,283,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Hubbell by 181.6% during 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 acquiring an additional 628,886 shares during the period. Mirova US LLC acquired a new position in shares of Hubbell during the second quarter valued at $139,386,000. Deutsche Bank AG lifted its stake in shares of Hubbell by 35.1% during 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 acquiring an additional 287,047 shares during the period. Finally, Parnassus Investments LLC acquired a new position in shares of Hubbell during the first quarter valued at $57,432,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the topic of several research reports. Mizuho upped their price target on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Stephens reaffirmed an “overweight” rating and set a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price target on Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barclays upped their price target on Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $486.00.

Hubbell Trading Up 0.1%

NYSE:HUBB opened at $470.51 on Monday. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $484.26. The business’s 50-day moving average price is $434.08 and its two-hundred day moving average price is $411.45. The company has a current ratio of 1.36, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.60 and a beta of 0.96.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, beating 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm posted $4.49 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

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

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.