Legacy Wealth Management LLC MS Takes $1.76 Million Position in Hubbell Inc $HUBB

Legacy Wealth Management LLC MS purchased a new stake in shares of Hubbell Inc (NYSE:HUBB) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 4,317 shares of the industrial products company’s stock, valued at approximately $1,763,000.

A number of other institutional investors have also recently added to or reduced their stakes in HUBB. Tsfg LLC acquired a new stake in shares of Hubbell during the first quarter valued at about $30,000. NBC Securities Inc. purchased a new position in Hubbell in the first quarter valued at about $49,000. CX Institutional purchased a new position in Hubbell in the first quarter valued at about $49,000. Ransom Advisory Ltd acquired a new stake in Hubbell during the 1st quarter valued at approximately $53,000. Finally, Groupe la Francaise purchased a new stake in Hubbell during the 1st quarter worth approximately $57,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 3.0%

Shares of NYSE:HUBB opened at $437.42 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The company’s fifty day moving average is $430.95 and its two-hundred day moving average is $388.37. The stock has a market capitalization of $23.24 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.99.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Equities analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. Hubbell’s payout ratio is currently 34.29%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HUBB. Stephens reiterated an “overweight” rating and set a $500.00 target price on shares of Hubbell in a research note on Thursday. Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised shares of Hubbell from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Barclays upped their target price on shares of Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus target price 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.