WESPAC Advisors SoCal LLC Boosts Stake in Hubbell Inc $HUBB

WESPAC Advisors SoCal LLC raised its holdings in shares of Hubbell Inc (NYSE:HUBB) by 63.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,379 shares of the industrial products company’s stock after buying an additional 927 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Hubbell were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HUBB. Nuveen LLC purchased a new position in Hubbell during the first quarter worth about $213,283,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of 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 purchasing an additional 628,886 shares in the last quarter. Mirova US LLC purchased a new position in shares of Hubbell in the 2nd quarter worth about $139,386,000. Deutsche Bank AG boosted its holdings in shares of 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 purchasing an additional 287,047 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new position in shares of Hubbell in the 1st quarter worth about $57,432,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Up 1.4%

Shares of HUBB stock opened at $431.74 on Tuesday. The stock has a market capitalization of $22.94 billion, a PE ratio of 28.04, a P/E/G ratio of 2.38 and a beta of 0.96. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The business has a 50-day moving average of $431.62 and a 200 day moving average of $404.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB) last issued 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 company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations 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. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HUBB. Barclays upped their price objective on Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Mizuho upped their price objective on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Finally, Wells Fargo & Company upgraded Hubbell from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $476.50.

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.