Hubbell Inc $HUBB Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. reduced its holdings in Hubbell Inc by 15%, now owning 6,480 shares worth approximately $2.14 million.
• Institutional investors collectively own 88.16% of Hubbell's stock, indicating a significant level of institutional interest and investment in the company.
• Hubbell reported a strong earnings performance of $4.93 per share, exceeding analysts' expectations, and declared a quarterly dividend of $1.32 per share.

Candriam S.C.A. reduced its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 15.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,480 shares of the industrial products company's stock after selling 1,142 shares during the quarter. Candriam S.C.A.'s holdings in Hubbell were worth $2,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HUBB. Teacher Retirement System of Texas lifted its stake in Hubbell by 1,462.9% in the first quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock worth $2,596,000 after purchasing an additional 7,344 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Hubbell by 60.4% during the 1st quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock worth $97,000 after acquiring an additional 110 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings 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. CX Institutional purchased a new stake in Hubbell in the first quarter worth $49,000. Finally, GAMMA Investing LLC increased its stake 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 purchasing an additional 215 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on HUBB shares. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. raised their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays lifted their price objective on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $462.29.

Hubbell Stock Performance

Shares of HUBB stock traded down $0.09 during mid-day trading on Thursday, reaching $445.97. The stock had a trading volume of 312,702 shares, compared to its average volume of 621,822. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The firm has a market cap of $23.70 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 2.48 and a beta of 0.99. 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 moving average is $423.45 and its 200-day moving average is $384.30.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share 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 analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. On average, research analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued 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 yield of 1.2%. Hubbell's dividend payout ratio is 34.29%.

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.