Walter Public Investments Inc. Lowers Stock Holdings in Hubbell Inc $HUBB

Key Points

• Walter Public Investments cut its Hubbell stake by 23.4% in the fourth quarter, selling 8,196 shares and leaving it with 26,890 shares valued at about $11.94 million.
• Hubbell’s stock remains widely held by institutions, with 88.16% of shares owned by hedge funds and other institutional investors. Several firms recently increased their positions, including Envestnet, DNB Asset Management, Perigon Wealth Management, and Nordea.
• Analysts remain cautiously positive on Hubbell, with a consensus “Moderate Buy” rating and an average price target of $546.25. The company also reported better-than-expected quarterly earnings and revenue, and declared a quarterly dividend of $1.42 per share.

Walter Public Investments Inc. trimmed its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 23.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,890 shares of the industrial products company's stock after selling 8,196 shares during the quarter. Hubbell accounts for approximately 2.1% of Walter Public Investments Inc.'s investment portfolio, making the stock its 21st biggest position. Walter Public Investments Inc. owned 0.05% of Hubbell worth $11,942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in Hubbell by 4.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 89,729 shares of the industrial products company's stock valued at $38,611,000 after acquiring an additional 3,542 shares during the period. DNB Asset Management AS boosted its stake in shares of Hubbell by 4.9% in the 4th quarter. DNB Asset Management AS now owns 38,865 shares of the industrial products company's stock valued at $17,260,000 after buying an additional 1,832 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Hubbell by 64.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,879 shares of the industrial products company's stock valued at $1,669,000 after buying an additional 1,514 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Hubbell by 32.4% in the 4th quarter. Perigon Wealth Management LLC now owns 16,600 shares of the industrial products company's stock valued at $7,372,000 after buying an additional 4,060 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Hubbell by 1.5% in the 4th quarter. Nordea Investment Management AB now owns 206,382 shares of the industrial products company's stock valued at $92,356,000 after buying an additional 2,983 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HUBB. Mizuho set a $575.00 price objective on Hubbell in a research note on Wednesday, February 4th. Wells Fargo & Company lifted their price objective on Hubbell from $530.00 to $560.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Barclays lifted their price objective on Hubbell from $481.00 to $503.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Wall Street Zen upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. lifted their price objective on Hubbell from $478.00 to $532.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Hubbell currently has a consensus rating of "Moderate Buy" and a consensus price target of $546.25.

Hubbell Price Performance

HUBB stock opened at $473.33 on Friday. The business has a 50 day moving average price of $503.78 and a 200 day moving average price of $481.77. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 2.39 and a beta of 0.95. Hubbell Inc has a fifty-two week low of $374.68 and a fifty-two week high of $565.50. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.06. The firm had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Equities research analysts anticipate that Hubbell Inc will post 19.84 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, May 29th. This represents a $5.68 annualized dividend and a yield of 1.2%. Hubbell's payout ratio is presently 33.55%.

Hubbell Company Profile

Hubbell Incorporated NYSE: HUBB is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company's offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.

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