Nordea Investment Management AB Trims Stock Position in Hubbell Inc $HUBB

Key Points

• Nordea Investment Management AB reduced its stake in Hubbell Inc by 1.6%, owning approximately 175,823 shares worth $71.4 million after selling 2,887 shares in the 2nd quarter.
• Investment analysts have shown increased confidence in Hubbell, with Wall Street Zen upgrading its rating to "strong-buy" and Barclays raising the price target to $431.00.
• Hubbell recently declared a quarterly dividend of $1.32 per share, reflecting an annualized dividend yield of 1.2% and a payout ratio of 34.29%.

Nordea Investment Management AB reduced its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,823 shares of the industrial products company's stock after selling 2,887 shares during the period. Nordea Investment Management AB owned about 0.33% of Hubbell worth $71,416,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in Hubbell during the 2nd quarter worth approximately $29,000. Tsfg LLC purchased a new stake in Hubbell during the 1st quarter worth approximately $30,000. Ransom Advisory Ltd purchased a new stake in Hubbell during the 1st quarter worth approximately $53,000. Groupe la Francaise purchased a new stake in Hubbell during the 1st quarter worth approximately $57,000. Finally, Intact Investment Management Inc. purchased a new stake in Hubbell during the 1st quarter worth approximately $66,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HUBB has been the topic of several recent research reports. Wall Street Zen raised shares of Hubbell from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Hubbell in a report on Wednesday, October 8th. 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 report on Friday, August 1st. Stephens reiterated an "overweight" rating and set a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Finally, Wells Fargo & Company upgraded 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 report on Tuesday, September 2nd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $476.50.

Hubbell Stock Down 0.6%

Shares of NYSE:HUBB opened at $426.44 on Friday. The stock has a market cap of $22.66 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.38 and a beta of 0.96. The firm has a fifty day moving average price of $431.33 and a 200 day moving average price of $402.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35.

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

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid 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 yield of 1.2%. Hubbell's dividend 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.

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