Hubbell Inc $HUBB Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has reduced its position in Hubbell Inc by 12%, selling 40,452 shares to hold approximately 295,856 shares, worth about $97.9 million.
• Hubbell recently reported earnings of $4.93 per share for the last quarter, exceeding estimates, while also forecasting a FY 2025 EPS of $17.650-18.15.
• A quarterly dividend of $1.32 per share was announced, with a payout date set for September 15th, yielding around 1.2% annually.

Ameriprise Financial Inc. lowered its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 12.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 295,856 shares of the industrial products company's stock after selling 40,452 shares during the period. Ameriprise Financial Inc. owned about 0.55% of Hubbell worth $97,902,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. Nissay Asset Management Corp Japan ADV grew its stake in Hubbell by 0.4% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after buying an additional 26 shares during the period. Horizon Investments LLC boosted its position in Hubbell by 5.0% during the 1st quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock worth $255,000 after purchasing an additional 37 shares during the period. Abundance Wealth Counselors boosted its position in Hubbell by 1.6% during the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock worth $851,000 after purchasing an additional 41 shares during the period. Utah Retirement Systems boosted its position in Hubbell by 0.5% during the 4th quarter. Utah Retirement Systems now owns 8,857 shares of the industrial products company's stock worth $3,710,000 after purchasing an additional 48 shares during the period. Finally, Vestcor Inc boosted its position in Hubbell by 2.4% during the 1st quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock worth $710,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Stock Down 3.3%

NYSE HUBB traded down $14.62 during trading hours on Friday, reaching $431.18. 579,237 shares of the company traded hands, compared to its average volume of 622,682. The company has a 50 day moving average of $424.39 and a two-hundred day moving average of $384.62. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. The stock has a market capitalization of $22.91 billion, a PE ratio of 28.00, a PEG ratio of 2.50 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) 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 net margin of 14.76% and a return on equity of 27.63%. The company 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. As a group, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm 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 $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 29th. Hubbell's dividend payout ratio (DPR) is presently 34.29%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Barclays upped their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company upped their target price on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $462.29.

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.