Goldman Sachs Group Inc. Trims Stock Position in Hubbell Inc $HUBB

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Hubbell Inc by 10.2%, selling 46,184 shares to end the first quarter with 407,950 shares valued at approximately $135 million.
• Several institutional investors significantly increased their holdings in Hubbell, with D. E. Shaw & Co. expanding its shares by 551.7% in the last quarter.
• Wall Street analysts are optimistic about Hubbell's performance, with a consensus rating of "Moderate Buy" and an average target price of $472.63, reflecting expected growth in earnings.

Goldman Sachs Group Inc. reduced its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 10.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 407,950 shares of the industrial products company's stock after selling 46,184 shares during the period. Goldman Sachs Group Inc. owned about 0.76% of Hubbell worth $134,995,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tsfg LLC purchased a new position in shares of Hubbell in the 1st quarter worth about $30,000. NBC Securities Inc. bought a new stake in Hubbell in the 1st quarter worth about $49,000. CX Institutional bought a new stake in Hubbell in the 1st quarter worth about $49,000. Groupe la Francaise bought a new stake in Hubbell in the 1st quarter worth about $57,000. Finally, Intact Investment Management Inc. bought a new stake in Hubbell in the 1st quarter worth about $66,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

HUBB traded down $4.95 during trading on Tuesday, hitting $433.16. The company's stock had a trading volume of 220,391 shares, compared to its average volume of 612,629. 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 twelve month low of $299.42 and a twelve month high of $481.35. The business's fifty day simple moving average is $431.45 and its 200 day simple moving average is $389.05. The firm has a market capitalization of $23.02 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.45 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 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 firm 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 forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's dividend payout ratio is currently 34.29%.

Wall Street Analysts Forecast Growth

HUBB has been the subject of a number of recent research reports. Barclays boosted their price target on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Wells Fargo & Company raised Hubbell from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Stephens reaffirmed an "overweight" rating and set a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Hubbell presently has an average rating of "Moderate Buy" and an average 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.