Walter Public Investments Inc. Purchases 8,774 Shares of Hubbell Inc $HUBB

Walter Public Investments Inc. raised its position in shares of Hubbell Inc (NYSE:HUBB) by 33.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,086 shares of the industrial products company’s stock after acquiring an additional 8,774 shares during the period. Hubbell comprises about 2.5% of Walter Public Investments Inc.’s investment portfolio, making the stock its 22nd largest holding. Walter Public Investments Inc.’s holdings in Hubbell were worth $15,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HUBB. Cullen Frost Bankers Inc. grew its position in Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 68 shares during the last quarter. Mather Group LLC. acquired a new position in Hubbell in the third quarter worth $37,000. Johnson Financial Group Inc. boosted its stake in Hubbell by 185.4% in the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 89 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Hubbell during the second quarter worth $57,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Hubbell in the second quarter valued at $65,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on HUBB shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Barclays raised their price objective on shares of Hubbell from $456.00 to $465.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their target price on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Evercore ISI started coverage on shares of Hubbell in a report on Monday, December 15th. They issued an “outperform” rating and a $575.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

Hubbell Stock Down 1.3%

Shares of NYSE HUBB opened at $475.60 on Thursday. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $484.26. The firm’s 50-day moving average is $445.59 and its 200-day moving average is $436.50. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $25.28 billion, a PE ratio of 29.50, a price-to-earnings-growth 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 for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted $4.49 earnings per share. Hubbell’s revenue for the quarter was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Equities analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $1.42 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend was Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is currently 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.