Hubbell Inc $HUBB Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its stake in Hubbell Inc by 5.9% during the second quarter, holding approximately 0.05% of the company's shares worth about $11.7 million.
• Several institutional investors have increased their stakes in Hubbell, including Financiere des Professionnels which grew its stake by 22.1%.
• Hubbell has received positive ratings from various analysts, with a consensus rating of "Moderate Buy" and a price target averaging $472.63.

Swedbank AB trimmed its position in Hubbell Inc (NYSE:HUBB - Free Report) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,763 shares of the industrial products company's stock after selling 1,789 shares during the period. Swedbank AB owned about 0.05% of Hubbell worth $11,747,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC raised its stake in Hubbell by 16.6% during the 4th quarter. Tidal Investments LLC now owns 2,750 shares of the industrial products company's stock valued at $1,152,000 after purchasing an additional 392 shares during the period. Vident Advisory LLC increased its position in shares of Hubbell by 37.3% during the 4th quarter. Vident Advisory LLC now owns 2,492 shares of the industrial products company's stock valued at $1,044,000 after purchasing an additional 677 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Hubbell by 22.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 273,164 shares of the industrial products company's stock valued at $114,426,000 after acquiring an additional 50,565 shares during the period. Parr Mcknight Wealth Management Group LLC purchased a new position in Hubbell during the 4th quarter valued at $1,094,000. Finally, Toronto Dominion Bank boosted its holdings in Hubbell by 59.1% during the 4th quarter. Toronto Dominion Bank now owns 28,719 shares of the industrial products company's stock valued at $12,030,000 after acquiring an additional 10,667 shares during the period. Institutional investors own 88.16% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HUBB shares. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays increased 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. Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, Stephens reiterated an "overweight" rating and set a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $472.63.

Hubbell Stock Down 0.6%

NYSE:HUBB traded down $2.65 during midday trading on Monday, reaching $438.79. The company had a trading volume of 629,595 shares, compared to its average volume of 612,590. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 2.47 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 stock's fifty day simple moving average is $432.99 and its 200-day simple moving average is $391.46. Hubbell Inc has a 12-month low of $299.42 and a 12-month 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 (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 company 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. On average, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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

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.