Hubbell Inc $HUBB Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its position in Hubbell Inc shares by 50.9% during the 1st quarter, dropping to 2,160 shares valued at approximately $715,000.
• Hubbell recently reported earnings of $4.93 per share, exceeding analyst expectations, and set its FY 2025 guidance to a range of 17.650-18.15 EPS.
• The company announced a quarterly dividend of $1.32 per share, with a payment date of September 15th, resulting in an annualized dividend yield of 1.2%.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 50.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,160 shares of the industrial products company's stock after selling 2,235 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Hubbell were worth $715,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tsfg LLC purchased a new position in Hubbell in the first quarter worth $30,000. Johnson Financial Group Inc. raised its position in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after acquiring an additional 65 shares during the period. CX Institutional acquired a new position in shares of Hubbell during the 1st quarter worth about $49,000. NBC Securities Inc. acquired a new position in shares of Hubbell during the 1st quarter worth about $49,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Hubbell during the 1st quarter worth about $66,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Performance

HUBB stock traded up $4.10 during midday trading on Wednesday, reaching $446.62. The stock had a trading volume of 193,722 shares, compared to its average volume of 622,893. The stock has a market cap of $23.73 billion, a PE ratio of 28.98, a P/E/G ratio of 2.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The firm has a fifty day simple moving average of $422.49 and a two-hundred day simple moving average of $383.87. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35.

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

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given 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 dividend yield of 1.2%. Hubbell's dividend payout ratio is currently 34.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HUBB shares. 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. Barclays increased their target price on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Wells Fargo & Company raised their price objective on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $462.29.

Hubbell 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.