Nordea Investment Management AB Acquires 27,576 Shares of Hubbell Inc $HUBB

Nordea Investment Management AB boosted its holdings in Hubbell Inc (NYSE:HUBB) by 15.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,399 shares of the industrial products company’s stock after purchasing an additional 27,576 shares during the period. Nordea Investment Management AB owned approximately 0.38% of Hubbell worth $87,333,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of HUBB. Cullen Frost Bankers Inc. grew its position in Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 68 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Hubbell during the third quarter valued at approximately $37,000. Johnson Financial Group Inc. grew its holdings in shares of Hubbell by 185.4% in the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 89 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Hubbell in the second quarter worth $57,000. Finally, MUFG Securities EMEA plc bought a new stake in Hubbell during the 2nd quarter valued at $65,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 1.3%

NYSE HUBB opened at $475.60 on Thursday. The firm has a market capitalization of $25.28 billion, a PE ratio of 29.50, a P/E/G ratio of 2.44 and a beta of 1.02. The stock’s 50 day moving average is $445.59 and its 200 day moving average is $436.50. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $484.26. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

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

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a dividend of $1.42 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, November 28th. Hubbell’s payout ratio is 35.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HUBB shares. Evercore ISI started coverage on shares of Hubbell in a report on Monday, December 15th. They issued an “outperform” rating and a $575.00 price target on the stock. UBS Group reaffirmed a “neutral” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, December 12th. Barclays boosted their target price on Hubbell from $456.00 to $465.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $497.25.

Insider Activity

In other Hubbell news, Director John F. Malloy bought 435 shares of the stock in a transaction dated Monday, November 17th. The stock was purchased at an average cost of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the acquisition, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the completion of the sale, the insider directly owned 4,785 shares in the company, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.66% of the company’s stock.

Hubbell Company Profile

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.