Hubbell Inc $HUBB Shares Acquired by West Oak Capital LLC

Key Points

• West Oak Capital LLC increased its holdings in Hubbell Inc by 7.8%, now owning 8,515 shares valued at approximately $3.48 million.
• Hubbell reported stronger-than-expected earnings for Q2, with $4.93 EPS, beating estimates by $0.57, despite revenue falling short of analyst expectations.
• The company declared a quarterly dividend of $1.32, with an annualized yield of 1.2% and a payout ratio of 34.29%.

West Oak Capital LLC grew its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 7.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,515 shares of the industrial products company's stock after buying an additional 613 shares during the period. Hubbell accounts for about 1.4% of West Oak Capital LLC's holdings, making the stock its 20th biggest holding. West Oak Capital LLC's holdings in Hubbell were worth $3,478,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HUBB. Central Pacific Bank Trust Division acquired a new stake in shares of Hubbell in the second quarter valued at about $29,000. Tsfg LLC acquired a new stake in shares of Hubbell in the first quarter valued at about $30,000. NBC Securities Inc. acquired a new stake in shares of Hubbell in the first quarter valued at about $49,000. CX Institutional acquired a new stake in shares of Hubbell in the first quarter valued at about $49,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Hubbell in the first quarter valued at about $53,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Down 0.6%

NYSE HUBB opened at $438.79 on Tuesday. The firm has a 50 day simple moving average of $433.46 and a 200-day simple moving average of $392.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. Hubbell Inc has a one year low of $299.42 and a one year high of $481.35. The firm has a market cap of $23.32 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 2.47 and a beta of 0.99.

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 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 during the quarter, compared to analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Equities research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Hubbell Company 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.

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.