Nordea Investment Management AB Increases Stake in Hubbell Inc $HUBB

Nordea Investment Management AB grew its position in Hubbell Inc (NYSE:HUBB) by 15.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 203,399 shares of the industrial products company’s stock after purchasing an additional 27,576 shares during the quarter. Nordea Investment Management AB’s holdings in Hubbell were worth $87,333,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HUBB. Vanguard Group Inc. raised its holdings in Hubbell by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock worth $2,714,669,000 after acquiring an additional 21,508 shares during the last quarter. State Street Corp raised its stake in shares of Hubbell by 1.2% in the second quarter. State Street Corp now owns 2,183,405 shares of the industrial products company’s stock worth $891,724,000 after purchasing an additional 26,708 shares during the last quarter. Invesco Ltd. raised its stake in shares of Hubbell by 0.6% in the second quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock worth $625,698,000 after purchasing an additional 9,697 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hubbell by 1.8% during the second quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock valued at $550,571,000 after purchasing an additional 24,110 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of Hubbell by 9.5% during the second quarter. Impax Asset Management Group plc now owns 1,006,783 shares of the industrial products company’s stock valued at $409,363,000 after buying an additional 87,627 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $475.60 on Thursday. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $484.26. The firm has a market capitalization of $25.28 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $445.59 and a 200 day moving average of $436.50.

Hubbell (NYSE:HUBB) last issued 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. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. This is an increase from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend was Friday, November 28th. Hubbell’s dividend payout ratio is 35.24%.

Analyst Ratings Changes

A number of equities analysts have weighed in on HUBB shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Hubbell from a “strong-buy” rating to a “buy” rating in a report on Monday, December 29th. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Wells Fargo & Company lifted their target price on shares of Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Finally, Evercore ISI assumed coverage on Hubbell in a report on Monday, December 15th. They set an “outperform” rating and a $575.00 price target on the stock. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Insider Activity at Hubbell

In other news, Director John F. Malloy bought 435 shares of Hubbell stock in a transaction that occurred on Monday, November 17th. The stock was bought at an average cost of $429.24 per share, with a total value of $186,719.40. Following the acquisition, the director owned 19,085 shares of the company’s stock, valued at $8,192,045.40. The trade was a 2.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alyssa R. Flynn sold 2,011 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the sale, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.66% of the stock is currently owned by corporate insiders.

About Hubbell

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.