Greenwood Capital Associates LLC Lowers Stake in Hubbell Inc $HUBB

Greenwood Capital Associates LLC reduced its holdings in shares of Hubbell Inc (NYSE:HUBB) by 16.5% in the second quarter, HoldingsChannel reports. The fund owned 1,413 shares of the industrial products company’s stock after selling 280 shares during the period. Greenwood Capital Associates LLC’s holdings in Hubbell were worth $577,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its position in Hubbell by 1,462.9% during the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company’s stock valued at $2,596,000 after acquiring an additional 7,344 shares during the period. Private Trust Co. NA lifted its position in Hubbell by 60.4% during the 1st quarter. Private Trust Co. NA now owns 292 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 110 shares during the period. Stratos Wealth Partners LTD. lifted its position in Hubbell by 29.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 360 shares during the period. Beacon Financial Group purchased a new position in Hubbell during the 2nd quarter valued at about $262,000. Finally, Zurich Insurance Group Ltd FI purchased a new position in Hubbell during the 1st quarter valued at about $1,423,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Down 2.4%

HUBB opened at $413.15 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $432.84 and a 200-day moving average price of $396.77. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 2.37 and a beta of 0.96.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, beating the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Equities research analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Saturday, September 27th. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report on Friday. Stephens reaffirmed an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Wells Fargo & Company raised shares of Hubbell from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Finally, Barclays lifted 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. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $472.63.

Hubbell Company 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.