KLP Kapitalforvaltning AS Acquires 400 Shares of Hubbell Inc $HUBB

KLP Kapitalforvaltning AS raised its stake in Hubbell Inc (NYSE:HUBB) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,700 shares of the industrial products company’s stock after purchasing an additional 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Hubbell were worth $7,637,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas increased its holdings in shares of Hubbell by 1,462.9% in the first quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company’s stock valued at $2,596,000 after purchasing an additional 7,344 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Hubbell by 60.4% in the first quarter. Private Trust Co. NA now owns 292 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 110 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Hubbell by 29.6% in the first quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 360 shares during the last quarter. Beacon Financial Group acquired a new position in shares of Hubbell in the second quarter valued at $262,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Hubbell in the first quarter valued at $1,423,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on HUBB. Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Wells Fargo & Company upgraded shares of Hubbell from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, Barclays upped their price target 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. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and an average price target of $472.63.

Hubbell Trading Down 0.2%

HUBB opened at $418.76 on Friday. The stock has a market capitalization of $22.25 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 2.35 and a beta of 0.96. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $481.35. The company has a 50-day simple moving average of $431.33 and a 200 day simple moving average of $398.80.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, August 29th. Hubbell’s dividend payout ratio is presently 34.29%.

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.