Meiji Yasuda Asset Management Co Ltd. Sells 39 Shares of Hubbell Inc $HUBB

Meiji Yasuda Asset Management Co Ltd. lowered its stake in shares of Hubbell Inc (NYSE:HUBB) by 4.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 898 shares of the industrial products company’s stock after selling 39 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Hubbell were worth $297,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of HUBB. Tsfg LLC bought a new position in shares of Hubbell during the 1st quarter valued at approximately $30,000. NBC Securities Inc. bought a new position in shares of Hubbell during the 1st quarter valued at approximately $49,000. CX Institutional bought a new position in shares of Hubbell during the 1st quarter valued at approximately $49,000. Groupe la Francaise bought a new position in shares of Hubbell during the 1st quarter valued at approximately $57,000. Finally, Intact Investment Management Inc. bought a new position in shares of Hubbell during the 1st quarter valued at approximately $66,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB opened at $451.38 on Friday. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $430.49 and its 200-day simple moving average is $387.92. The company has a market capitalization of $23.99 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 2.47 and a beta of 0.99.

Hubbell (NYSE:HUBB) last posted its quarterly 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 return on equity of 27.63% and a net margin of 14.76%.The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. On average, equities research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on HUBB. Wall Street Zen raised Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. upped their price objective on Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Stephens reaffirmed an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a research report on Thursday. Wells Fargo & Company raised Hubbell from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Finally, Barclays upped their price objective on Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $472.63.

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.