Handelsbanken Fonder AB Has $20.29 Million Stock Position in Hubbell Inc $HUBB

Handelsbanken Fonder AB reduced its holdings in shares of Hubbell Inc (NYSE:HUBB) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,777 shares of the industrial products company’s stock after selling 3,223 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.07% of Hubbell worth $20,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pinnacle Bancorp Inc. grew its position in Hubbell by 165.0% in the first quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 33 shares in the last quarter. Raiffeisen Bank International AG increased its stake in Hubbell by 83.3% in the 4th quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock valued at $29,000 after buying an additional 30 shares during the last quarter. Baillie Gifford & Co. lifted its position 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 buying an additional 27 shares in the last quarter. Leonteq Securities AG bought a new stake in Hubbell during the 1st quarter worth about $33,000. Finally, DV Equities LLC acquired a new position in shares of Hubbell during the 4th quarter worth about $33,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HUBB. Stephens raised their price objective on Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Barclays upped their target price on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group restated a “neutral” rating and issued a $515.00 price target on shares of Hubbell in a research note on Tuesday, June 16th. Finally, Weiss Ratings lowered Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $554.38.

Hubbell Stock Performance

Shares of HUBB opened at $513.47 on Thursday. The firm has a 50-day moving average of $494.29 and a 200-day moving average of $498.44. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50. The company has a market cap of $27.13 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.13. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. Hubbell’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.93 EPS. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, equities analysts forecast that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $1.42 per share. 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.