Skandinaviska Enskilda Banken AB publ Buys 100 Shares of Hubbell Incorporated (NYSE:HUBB)

Skandinaviska Enskilda Banken AB publ increased its stake in Hubbell Incorporated (NYSE:HUBB) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,194 shares of the industrial products company’s stock after purchasing an additional 100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Hubbell were worth $4,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Nvwm LLC bought a new position in shares of Hubbell in the first quarter worth $25,000. EverSource Wealth Advisors LLC boosted its position in Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares during the period. Principal Securities Inc. bought a new position in Hubbell during the 4th quarter worth approximately $40,000. Riverview Trust Co bought a new stake in Hubbell in the first quarter valued at approximately $52,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Hubbell during the 1st quarter valued at $56,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE:HUBB opened at $426.01 on Monday. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The firm has a market capitalization of $22.87 billion, a PE ratio of 31.77, a P/E/G ratio of 1.44 and a beta of 0.90. The stock has a 50-day simple moving average of $381.79 and a two-hundred day simple moving average of $388.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $4.07 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Analysts forecast that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Buying and Selling at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HUBB shares. Wells Fargo & Company lifted their price objective on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley assumed coverage on shares of Hubbell in a research note on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price on the stock. Barclays reduced their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $404.88.

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.