Hubbell Inc $HUBB Shares Sold by Pacific Point Advisors LLC

Key Points

• Pacific Point Advisors LLC has reduced its stake in Hubbell Inc by 27.7% during the second quarter, now holding 8,104 shares valued at approximately $3.31 million, which represents only 1.8% of their portfolio.
• Hubbell announced a quarterly dividend of $1.32 per share, reflecting an annualized payout of $5.28, with a yield of 1.2%.
• The company reported earnings of $4.93 per share for the last quarter, exceeding expectations, and has set its FY 2025 guidance at 17.650-18.15 EPS.

Pacific Point Advisors LLC decreased its position in Hubbell Inc (NYSE:HUBB - Free Report) by 27.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,104 shares of the industrial products company's stock after selling 3,100 shares during the period. Hubbell comprises 1.8% of Pacific Point Advisors LLC's portfolio, making the stock its 7th largest holding. Pacific Point Advisors LLC's holdings in Hubbell were worth $3,310,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in Hubbell during the 2nd quarter worth approximately $29,000. Tsfg LLC acquired a new position in Hubbell during the first quarter worth $30,000. NBC Securities Inc. acquired a new position in Hubbell during the first quarter worth $49,000. CX Institutional purchased a new position in Hubbell in the first quarter worth $49,000. Finally, Ransom Advisory Ltd acquired a new stake in Hubbell in the first quarter valued at $53,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Up 1.0%

HUBB opened at $430.57 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The firm has a market cap of $22.88 billion, a P/E ratio of 27.96, a PEG ratio of 2.39 and a beta of 0.99. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $481.35. The business's fifty day simple moving average is $433.78 and its 200 day simple moving average is $395.44.

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

Hubbell Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HUBB shares. Barclays upped their price target 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. Stephens restated an "overweight" rating and set a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company raised Hubbell from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company 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.

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