Gulf International Bank UK Ltd Reduces Stock Holdings in Hubbell Inc $HUBB

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Hubbell Inc by 25.4%, owning 3,127 shares worth approximately $1.03 million as of the end of the first quarter.
• Hubbell recently announced a quarterly dividend of $1.32 per share, reflecting a 1.2% dividend yield and a dividend payout ratio of 34.29%.
• Wall Street analysts have generally rated Hubbell with a "hold," with recent price targets increased, reflecting optimistic market sentiment and a greater focus on electrification growth opportunities.

Gulf International Bank UK Ltd cut its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 25.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,127 shares of the industrial products company's stock after selling 1,066 shares during the period. Gulf International Bank UK Ltd's holdings in Hubbell were worth $1,034,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HUBB. Bank of New York Mellon Corp increased its stake in shares of Hubbell by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock worth $937,623,000 after buying an additional 7,142 shares during the period. Invesco Ltd. increased its stake in shares of Hubbell by 2.1% during the first quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company's stock worth $503,757,000 after buying an additional 31,859 shares during the period. Deutsche Bank AG increased its stake in shares of Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after buying an additional 287,047 shares during the period. Nuveen LLC purchased a new stake in shares of Hubbell during the first quarter worth approximately $213,283,000. Finally, Northern Trust Corp increased its stake in shares of Hubbell by 16.4% during the fourth quarter. Northern Trust Corp now owns 518,111 shares of the industrial products company's stock worth $217,032,000 after buying an additional 72,913 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HUBB. Wells Fargo & Company upped their target price on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Barclays upped their target price 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. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Hubbell has an average rating of "Hold" and an average price target of $462.29.

Hubbell Stock Performance

Shares of HUBB stock traded down $6.3910 during trading hours on Wednesday, hitting $426.4190. The stock had a trading volume of 143,557 shares, compared to its average volume of 630,189. The firm has a market capitalization of $22.66 billion, a PE ratio of 27.71, a PEG ratio of 2.42 and a beta of 0.99. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The stock's 50 day moving average is $417.80 and its 200 day moving average is $382.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping the consensus estimate 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 during 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, research analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $1.32 dividend. The ex-dividend date is Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.2%. Hubbell's dividend payout ratio is presently 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.