Forsta AP Fonden Sells 15,200 Shares of Hubbell Inc $HUBB

Forsta AP Fonden cut its position in Hubbell Inc (NYSE:HUBB) by 41.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 21,200 shares of the industrial products company’s stock after selling 15,200 shares during the period. Forsta AP Fonden’s holdings in Hubbell were worth $8,658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. DB Fitzpatrick & Co Inc grew its holdings in Hubbell by 0.6% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company’s stock worth $1,776,000 after purchasing an additional 26 shares during the period. Chicago Capital LLC boosted its holdings in shares of Hubbell by 0.5% during the 2nd quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company’s stock worth $2,504,000 after buying an additional 29 shares during the period. Klingman & Associates LLC raised its holdings in Hubbell by 1.2% in the 2nd quarter. Klingman & Associates LLC now owns 2,496 shares of the industrial products company’s stock valued at $1,019,000 after acquiring an additional 29 shares during the period. Bordeaux Wealth Advisors LLC grew its position in shares of Hubbell by 5.0% in the second quarter. Bordeaux Wealth Advisors LLC now owns 635 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 30 shares during the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in Hubbell by 1.9% during the 2nd quarter. Montag A & Associates Inc. now owns 1,630 shares of the industrial products company’s stock worth $666,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of research reports. Stephens reissued an “overweight” rating and set a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Wells Fargo & Company boosted their price objective on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Mizuho lifted their price target on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus target price of $477.83.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $437.61 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $23.26 billion, a PE ratio of 27.15, a PEG ratio of 2.60 and a beta of 1.00. The firm has a 50 day moving average of $437.89 and a 200-day moving average of $417.59. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $484.26.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm posted $4.49 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities research analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $1.42 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, November 28th. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the completion of the transaction, the insider owned 3,243 shares of the company’s stock, valued at approximately $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the sale, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. This trade represents a 34.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.76% of the stock is currently owned by corporate insiders.

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.