Hubbell Inc $HUBB Position Boosted by Walter Public Investments Inc.

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. lifted its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 42.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,312 shares of the industrial products company's stock after purchasing an additional 7,828 shares during the period. Hubbell comprises 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 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. CX Institutional lifted its position in shares of 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 purchasing an additional 72 shares during the last quarter. UMB Bank n.a. lifted its position in shares of 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 purchasing an additional 44 shares during the last quarter. Diversified Trust Co lifted its position in shares of 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 purchasing an additional 190 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of 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 purchasing an additional 656 shares during the last quarter. Finally, Security National Bank lifted its position in shares of 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 purchasing an additional 1,408 shares during the last quarter. Institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

NYSE HUBB opened at $441.26 on Friday. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The firm has a market capitalization of $23.45 billion, a PE ratio of 28.65, a P/E/G ratio of 2.47 and a beta of 0.99. The company's 50 day simple moving average is $432.99 and its 200 day simple moving average is $391.14.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating analysts' consensus estimates 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. As a group, equities research analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors 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 dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Hubbell's dividend payout ratio (DPR) is currently 34.29%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HUBB. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Stephens reiterated an "overweight" rating and set a $500.00 price objective on shares of Hubbell in a research note on Thursday, September 11th. Finally, Barclays increased their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $472.63.

About Hubbell

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.

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Inc (NYSE:HUBB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.