Walter Public Investments Inc. Has $15.10 Million Stake in Hubbell Inc $HUBB

Walter Public Investments Inc. lifted its stake in Hubbell Inc (NYSE:HUBB) by 33.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,086 shares of the industrial products company’s stock after purchasing an additional 8,774 shares during the quarter. Hubbell accounts for 2.5% of Walter Public Investments Inc.’s portfolio, making the stock its 22nd largest position. Walter Public Investments Inc. owned about 0.07% of Hubbell worth $15,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McKinley Carter Wealth Services Inc. lifted its position in shares of Hubbell by 16.7% during the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after purchasing an additional 2,843 shares during the last quarter. Belpointe Asset Management LLC bought a new position in Hubbell in the 2nd quarter worth approximately $320,000. Venturi Wealth Management LLC acquired a new position in shares of Hubbell during the second quarter worth approximately $490,000. Beacon Financial Group bought a new stake in shares of Hubbell in the second quarter valued at approximately $262,000. Finally, Ilex Capital Partners UK LLP bought a new stake in shares of Hubbell in the second quarter valued at approximately $1,431,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total value of $945,813.52. Following the sale, the insider owned 3,243 shares of the company’s stock, valued at $1,525,247.76. The trade was a 38.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the transaction, the insider owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 29th. UBS Group restated a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, December 12th. Mizuho upped their price objective on shares of Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Evercore ISI initiated coverage on shares of Hubbell in a research note on Monday, December 15th. They issued an “outperform” rating and a $575.00 target price for the company. Finally, Barclays lifted their target price on Hubbell from $456.00 to $465.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

Hubbell Price Performance

NYSE:HUBB opened at $475.60 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36. The company has a 50-day moving average of $445.59 and a 200-day moving average of $436.50. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26. The company has a market capitalization of $25.28 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 2.44 and a beta of 1.02.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.19. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a dividend of $1.42 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date was Friday, November 28th. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is 35.24%.

Hubbell 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.