Hubbell Inc $HUBB Shares Sold by Beck Mack & Oliver LLC

Key Points

• Beck Mack & Oliver LLC reduced its stake in Hubbell Inc by 1.5%, now owning approximately 0.09% of the company, valued at about $16.8 million.
• Hubbell reported a strong earnings performance with $4.93 EPS, exceeding analyst expectations, alongside setting a fiscal year 2025 EPS guidance of 17.63.
• The company recently announced a quarterly dividend of $1.32 per share, with an annualized yield of 1.2% and a payout ratio of 34.29%.

Beck Mack & Oliver LLC cut its stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,669 shares of the industrial products company's stock after selling 785 shares during the quarter. Beck Mack & Oliver LLC owned approximately 0.09% of Hubbell worth $16,767,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Hubbell during the 1st quarter valued at $213,283,000. Deutsche Bank AG grew its position in Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after buying an additional 287,047 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new position in shares of Hubbell in the fourth quarter valued at $95,868,000. GAMMA Investing LLC boosted its holdings in Hubbell by 52,429.8% during the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after purchasing an additional 191,893 shares in the last quarter. Finally, PointState Capital LP acquired a new position in shares of Hubbell in the 4th quarter worth approximately $78,443,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HUBB. Wells Fargo & Company increased their price target on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Barclays upped their price target on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $462.29.

Hubbell Trading Down 3.3%

NYSE:HUBB opened at $431.18 on Friday. 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 $22.91 billion, a P/E ratio of 28.00, a PEG ratio of 2.41 and a beta of 0.99. Hubbell Inc has a one year low of $299.42 and a one year high of $481.35. The company's 50-day simple moving average is $425.11 and its 200 day simple moving average is $384.81.

Hubbell (NYSE:HUBB - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, 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 will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued 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 is Friday, August 29th. Hubbell's payout ratio is presently 34.29%.

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.

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