Livforsakringsbolaget Skandia Omsesidigt Sells 900 Shares of Hubbell Inc $HUBB

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Hubbell Inc by 65.3%, now holding 478 shares valued at $195,000.
• Hubbell recently reported $4.93 EPS for the quarter, beating analysts' estimates and announcing a quarterly dividend of $1.32 per share with a yield of 1.2%.
• Several institutional investors, including D. E. Shaw & Co. Inc. and Tidal Investments LLC, significantly increased their stakes in Hubbell, reflecting strong institutional interest in the company.

Livforsakringsbolaget Skandia Omsesidigt cut its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 65.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478 shares of the industrial products company's stock after selling 900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Hubbell were worth $195,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. D. E. Shaw & Co. Inc. grew its stake in shares of Hubbell by 551.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,985 shares of the industrial products company's stock valued at $1,250,000 after acquiring an additional 2,527 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Hubbell by 16.6% in 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 in the last quarter. Vident Advisory LLC increased its stake in shares of Hubbell by 37.3% in the 4th quarter. Vident Advisory LLC now owns 2,492 shares of the industrial products company's stock valued at $1,044,000 after acquiring an additional 677 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Hubbell by 22.7% in 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 in the last quarter. Finally, Pacific Point Advisors LLC bought a new stake in shares of Hubbell in the 4th quarter valued at $4,492,000. 88.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Barclays lifted their price target on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Stephens reaffirmed an "overweight" rating and set a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Finally, Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Hubbell currently has an average rating of "Moderate Buy" and an average target price of $472.63.

Hubbell Stock Performance

Shares of NYSE HUBB traded down $2.59 during mid-day trading on Monday, reaching $438.85. 477,169 shares of the company's stock were exchanged, compared to its average volume of 611,572. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 2.47 and a beta of 0.99. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The firm has a 50-day moving average price of $432.99 and a two-hundred day moving average price of $391.46.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results 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. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations 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. Analysts predict that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

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

About Hubbell

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.