Walter Public Investments Inc. Boosts Stake in Hubbell Inc $HUBB

Key Points

• Walter Public Investments Inc. increased its stake in Hubbell Inc by 42.4% during the second quarter, now holding 26,312 shares valued at approximately $10.75 million.
• Hubbell's recent earnings report highlighted an EPS of $4.93, exceeding analysts' expectations of $4.36, with a net margin of 14.76%.
• The company declared a quarterly dividend of $1.32 per share, yielding 1.2% annually, with a payout ratio of 34.29%.

Walter Public Investments Inc. boosted its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 42.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,312 shares of the industrial products company's stock after buying an additional 7,828 shares during the period. Hubbell accounts for about 1.8% of Walter Public Investments Inc.'s investment portfolio, making the stock its 27th biggest holding. Walter Public Investments Inc.'s holdings in Hubbell were worth $10,746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. CX Institutional lifted its holdings in Hubbell by 49.0% during the second quarter. CX Institutional now owns 219 shares of the industrial products company's stock worth $89,000 after buying an additional 72 shares during the period. UMB Bank n.a. lifted its holdings in Hubbell by 13.7% during the second quarter. UMB Bank n.a. now owns 366 shares of the industrial products company's stock worth $149,000 after buying an additional 44 shares during the period. Diversified Trust Co lifted its holdings in Hubbell by 16.7% during the second quarter. Diversified Trust Co now owns 1,326 shares of the industrial products company's stock worth $542,000 after buying an additional 190 shares during the period. IFM Investors Pty Ltd lifted its holdings in Hubbell by 5.6% during the second quarter. IFM Investors Pty Ltd now owns 12,409 shares of the industrial products company's stock worth $5,068,000 after buying an additional 656 shares during the period. Finally, Security National Bank lifted its holdings in Hubbell by 17.5% during the second quarter. Security National Bank now owns 9,438 shares of the industrial products company's stock worth $3,855,000 after buying an additional 1,408 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

Shares of HUBB stock traded down $4.44 during mid-day trading on Tuesday, hitting $434.05. 249,495 shares of the stock were exchanged, compared to its average volume of 610,516. The firm has a fifty day moving average of $433.46 and a 200 day moving average of $392.04. 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 52-week low of $299.42 and a 52-week high of $481.35. The company has a market cap of $23.07 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 2.47 and a beta of 0.99.

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

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Hubbell's dividend payout ratio is presently 34.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Stephens reaffirmed an "overweight" rating and set a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Wells Fargo & Company raised Hubbell from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Barclays upped their price target on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $472.63.

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.