Technology: Hubbell
If you do a quick search of Progress Lighting products carried at Home Depot, you’ll get a list of 2,789 lamps and other lighting products available for sale. Progress is a division of Hubbell (NYSE:HUB.B), a Connecticut-based company specializing in the manufacture of electrical and electronic products for a broad range of non-residential and residential construction.
Hubbell’s lighting products business (which includes 15 brands, including Progress) is part of its electrical segment, which accounts for approximately 70% of overall revenue, with the remaining 30% from products related to the transmission of power.
While not growing revenue faster than 7% a year over the past decade, Hubbell has been able to grow operating income by 13% at the same time, leading to a total annual return for shareholders of 10.1% — 390 basis points higher than the S&P 500.
Slow and steady wins this race.
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