Livforsakringsbolaget Skandia Omsesidigt Trims Holdings in Hubbell Inc $HUBB

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Hubbell Inc by 65.3% during the second quarter, bringing its holdings down to 478 shares valued at approximately $195,000.
• Several large investors have recently increased their positions in Hubbell, with Parallel Advisors LLC boosting its stake by 37% and Thurston Springer Miller Herd & Titak Inc. increasing theirs by 26.8%.
• Hubbell reported earnings of $4.93 per share for the last quarter, surpassing the consensus estimate of $4.36, and has set its FY 2025 guidance at $17.650-$18.15 EPS.

Livforsakringsbolaget Skandia Omsesidigt lessened its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 65.3% during the second quarter, according to its most recent disclosure 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 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Hubbell by 37.0% in the 2nd quarter. Parallel Advisors LLC now owns 667 shares of the industrial products company's stock valued at $272,000 after purchasing an additional 180 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Hubbell by 26.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,947 shares of the industrial products company's stock valued at $1,203,000 after acquiring an additional 622 shares in the last quarter. TruWealth Advisors LLC boosted its position in Hubbell by 11.5% in the second quarter. TruWealth Advisors LLC now owns 922 shares of the industrial products company's stock valued at $377,000 after buying an additional 95 shares in the last quarter. LVM Capital Management Ltd. MI boosted its position in Hubbell by 1.6% in the second quarter. LVM Capital Management Ltd. MI now owns 29,973 shares of the industrial products company's stock valued at $12,241,000 after buying an additional 478 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Hubbell during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Price Performance

Shares of Hubbell stock traded up $1.16 on Friday, reaching $441.26. The stock had a trading volume of 732,542 shares, compared to its average volume of 435,898. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. 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 business's 50 day moving average is $432.99 and its two-hundred day moving average is $391.14. The company has a market cap of $23.45 billion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 2.47 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The business had revenue of $1.48 billion for 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 anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently declared 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 of this dividend 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 is presently 34.29%.

Analyst Ratings Changes

HUBB has been the subject of a number of recent research reports. Stephens reissued an "overweight" rating and set a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Barclays boosted their price target 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. Wells Fargo & Company raised shares of Hubbell from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $472.63.

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.