Hubbell Inc $HUBB Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its position in shares of Hubbell Inc (NYSE:HUBB) by 50.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,160 shares of the industrial products company’s stock after selling 2,235 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Hubbell were worth $715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC acquired a new position in shares of Hubbell during the 1st quarter worth $30,000. Johnson Financial Group Inc. raised its stake in shares of Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after buying an additional 65 shares during the last quarter. CX Institutional acquired a new position in shares of Hubbell during the 1st quarter worth $49,000. NBC Securities Inc. acquired a new position in shares of Hubbell during the 1st quarter worth $49,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Hubbell during the 1st quarter worth $66,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Up 3.0%

Shares of HUBB stock opened at $440.29 on Friday. The firm has a 50-day moving average price of $420.53 and a 200 day moving average price of $383.39. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 2.39 and a beta of 0.99. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, beating the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Research analysts forecast that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is 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 currently 34.29%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen raised Hubbell from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Barclays boosted their target price on shares of Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company boosted their target price on shares of Hubbell from $420.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Hubbell currently has an average rating of “Hold” and a consensus target price of $462.29.

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.