Handelsbanken Fonder AB Sells 3,223 Shares of Hubbell Inc $HUBB

Handelsbanken Fonder AB reduced its stake in Hubbell Inc (NYSE:HUBB) by 7.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,777 shares of the industrial products company’s stock after selling 3,223 shares during the period. Handelsbanken Fonder AB’s holdings in Hubbell were worth $20,288,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HUBB. BSW Wealth Partners grew its stake in Hubbell by 2.9% in the 4th quarter. BSW Wealth Partners now owns 769 shares of the industrial products company’s stock valued at $341,000 after buying an additional 22 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Hubbell by 1.9% during the fourth quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company’s stock worth $572,000 after acquiring an additional 24 shares during the period. Benjamin Edwards Inc. grew its position in shares of Hubbell by 2.0% in the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after purchasing an additional 24 shares during the last quarter. Quest Investment Management LLC increased its stake in shares of Hubbell by 1.3% during the third quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 25 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in Hubbell by 62.8% during the 4th quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HUBB shares. UBS Group reaffirmed a “neutral” rating and issued a $515.00 price objective on shares of Hubbell in a report on Tuesday, June 16th. Sanford C. Bernstein reissued an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Barclays upped their price target on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Stephens lifted their price objective on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $554.38.

Hubbell Trading Down 1.2%

Shares of NYSE:HUBB opened at $513.47 on Thursday. The company has a market capitalization of $27.13 billion, a P/E ratio of 30.40, a P/E/G ratio of 2.55 and a beta of 0.90. Hubbell Inc has a 1 year low of $403.82 and a 1 year high of $565.50. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93. The business’s 50 day simple moving average is $494.29 and its 200 day simple moving average is $498.44.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.39 by $0.13. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $4.93 EPS. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, research analysts anticipate that Hubbell Inc will post 20.41 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. Hubbell’s payout ratio is 33.63%.

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.