Aberdeen Group plc Lowers Stake in Hubbell Inc $HUBB

Key Points

• Aberdeen Group plc reduced its stake in Hubbell Inc (NYSE:HUBB) by 24.7%, now owning 172,573 shares worth approximately $70.46 million.
• Hubbell's latest earnings report showed an EPS of $4.93, exceeding estimates, although revenue of $1.48 billion fell short of projections.
• The company recently announced a dividend of $1.32 per share with a yield of 1.3%, continuing its trend of rewarding shareholders.

Aberdeen Group plc reduced its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 24.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,573 shares of the industrial products company's stock after selling 56,641 shares during the period. Aberdeen Group plc owned 0.32% of Hubbell worth $70,460,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HUBB. Farther Finance Advisors LLC raised its holdings in Hubbell by 360.0% in the first quarter. Farther Finance Advisors LLC now owns 460 shares of the industrial products company's stock worth $153,000 after buying an additional 360 shares during the last quarter. GAMMA Investing LLC raised its holdings in Hubbell by 58.7% in the first quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock worth $192,000 after buying an additional 215 shares during the last quarter. SG Americas Securities LLC raised its holdings in Hubbell by 58.9% in the first quarter. SG Americas Securities LLC now owns 2,134 shares of the industrial products company's stock worth $706,000 after buying an additional 791 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Hubbell by 1,450.1% in the first quarter. Assenagon Asset Management S.A. now owns 38,581 shares of the industrial products company's stock worth $12,767,000 after buying an additional 36,092 shares during the last quarter. Finally, CX Institutional purchased a new position in Hubbell in the first quarter worth about $49,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $408.50 on Friday. The firm has a 50 day moving average of $430.98 and a 200 day moving average of $399.54. 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 firm has a market capitalization of $21.71 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 2.28 and a beta of 0.96. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $0.57. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. On average, research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 29th. Hubbell's payout ratio is 34.29%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HUBB. Stephens reaffirmed an "overweight" rating and issued a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Barclays lifted their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Hubbell in a research note on Wednesday. Wall Street Zen upgraded shares of Hubbell from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $472.63.

About Hubbell

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.

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