Hubbell Inc $HUBB Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

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 decreased its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 65.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 478 shares of the industrial products company's stock after selling 900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Hubbell were worth $195,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Horizon Investments LLC grew its position in shares of Hubbell by 5.0% during the first quarter. Horizon Investments LLC now owns 770 shares of the industrial products company's stock worth $255,000 after buying an additional 37 shares in the last quarter. Abundance Wealth Counselors increased its stake in Hubbell by 1.6% in the 1st quarter. Abundance Wealth Counselors now owns 2,573 shares of the industrial products company's stock worth $851,000 after purchasing an additional 41 shares in the last quarter. Vestcor Inc increased its stake in Hubbell by 2.4% in the 1st quarter. Vestcor Inc now owns 2,146 shares of the industrial products company's stock worth $710,000 after purchasing an additional 50 shares in the last quarter. Brooklyn Investment Group grew its stake in Hubbell by 16.4% during the 1st quarter. Brooklyn Investment Group now owns 384 shares of the industrial products company's stock valued at $127,000 after acquiring an additional 54 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Hubbell by 21.1% in the 1st quarter. UMB Bank n.a. now owns 322 shares of the industrial products company's stock valued at $107,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

Shares of NYSE HUBB traded down $6.74 during mid-day trading on Tuesday, hitting $431.75. The company had a trading volume of 64,908 shares, compared to its average volume of 609,554. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. The stock's 50-day moving average price is $433.46 and its 200-day moving average price is $392.04. 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 company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 2.47 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, beating 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 analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. On average, sell-side analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $1.32 per share. The ex-dividend date was 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 (DPR) is presently 34.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HUBB. Stephens reiterated an "overweight" rating and set a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Wells Fargo & Company raised Hubbell from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $445.00 to $490.00 in a research 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, Barclays upped their target price on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $472.63.

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.