WESPAC Advisors SoCal LLC Grows Stake in Hubbell Inc $HUBB

WESPAC Advisors SoCal LLC grew its holdings in Hubbell Inc (NYSE:HUBB) by 63.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,379 shares of the industrial products company’s stock after acquiring an additional 927 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Hubbell were worth $972,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in Hubbell by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company’s stock worth $937,623,000 after buying an additional 7,142 shares during the period. Invesco Ltd. lifted its holdings in Hubbell by 2.1% in the 1st quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company’s stock worth $503,757,000 after buying an additional 31,859 shares during the period. Deutsche Bank AG lifted its holdings in Hubbell by 35.1% in the 1st 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 during the period. Adage Capital Partners GP L.L.C. lifted its holdings in Hubbell by 181.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after buying an additional 628,886 shares during the period. Finally, Nuveen LLC purchased a new stake in Hubbell in the 1st quarter worth approximately $213,283,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on HUBB shares. Mizuho increased their target price on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday. Stephens reissued an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Barclays increased their target price on Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $476.50.

Hubbell Stock Up 1.4%

Shares of NYSE:HUBB opened at $431.74 on Tuesday. The stock has a fifty day simple moving average of $431.62 and a two-hundred day simple moving average of $404.09. The stock has a market capitalization of $22.94 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.38 and a beta of 0.96. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell’s payout ratio is presently 34.29%.

Hubbell Company 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.