Swedbank AB Sells 5,556 Shares of Hubbell Inc $HUBB

Key Points

• Swedbank AB has reduced its stake in Hubbell Inc by 15.4%, owning 30,552 shares worth approximately $10.11 million as of the latest 13F filing.
• Hubbell's recent earnings report showed $4.93 earnings per share, surpassing estimates, although revenue fell short at $1.48 billion.
• The company declared a quarterly dividend of $1.32 per share, indicating an annualized yield of 1.2% and a payout ratio of 34.29%.

Swedbank AB reduced its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,552 shares of the industrial products company's stock after selling 5,556 shares during the period. Swedbank AB owned about 0.06% of Hubbell worth $10,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Tsfg LLC bought a new stake in shares of Hubbell during the first quarter worth about $30,000. NBC Securities Inc. bought a new stake in shares of Hubbell during the first quarter worth about $49,000. CX Institutional bought a new stake in shares of Hubbell during the first quarter worth about $49,000. Ransom Advisory Ltd bought a new stake in shares of Hubbell during the first quarter worth about $53,000. Finally, Groupe la Francaise bought a new stake in shares of Hubbell during the first quarter worth about $57,000. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Hubbell Trading Up 0.3%

Shares of Hubbell stock traded up $1.16 during midday trading on Friday, reaching $441.26. The company had a trading volume of 732,542 shares, compared to its average volume of 435,898. The stock has a fifty day moving average price of $432.99 and a 200 day moving average price of $390.89. 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 market cap of $23.45 billion, a PE ratio of 28.65, a P/E/G ratio of 2.46 and a beta of 0.99. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data 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. Hubbell had a return on equity of 27.63% and a net margin of 14.76%.The company had revenue of $1.48 billion for 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, equities analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Hubbell's dividend payout ratio is presently 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.