Occidental Asset Management LLC Grows Stake in Hubbell Incorporated (NYSE:HUBB)

Occidental Asset Management LLC increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 10,795 shares of the industrial products company’s stock after acquiring an additional 169 shares during the period. Hubbell comprises approximately 0.8% of Occidental Asset Management LLC’s portfolio, making the stock its 28th biggest holding. Occidental Asset Management LLC’s holdings in Hubbell were worth $4,480,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HUBB. International Assets Investment Management LLC grew its position in shares of Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after purchasing an additional 918,808 shares in the last quarter. Norges Bank purchased a new stake in shares of Hubbell during the fourth quarter worth about $143,024,000. Massachusetts Financial Services Co. MA boosted its stake in Hubbell by 24.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock valued at $417,267,000 after buying an additional 248,493 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in Hubbell by 575.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock valued at $94,793,000 after buying an additional 245,536 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 1.2 %

Shares of Hubbell stock traded down $4.36 on Friday, reaching $365.48. The company had a trading volume of 1,829,822 shares, compared to its average volume of 529,360. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 1.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. The firm’s 50-day moving average price is $388.27 and its two-hundred day moving average price is $371.99. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.61 EPS. As a group, research analysts predict that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Friday, May 31st. Hubbell’s payout ratio is currently 36.39%.

Analyst Ratings Changes

A number of brokerages recently commented on HUBB. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price target for the company. Wells Fargo & Company dropped their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Barclays dropped their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Finally, Mizuho increased their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and an average target price of $386.57.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,106 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares in the company, valued at approximately $1,722,348.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Alyssa R. Flynn sold 1,106 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares in the company, valued at approximately $1,722,348.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Eugene Mikes sold 1,942 shares of Hubbell stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now directly owns 3,436 shares of the company’s stock, valued at $1,379,004.24. The disclosure for this sale can be found here. Insiders sold a total of 3,055 shares of company stock worth $1,232,139 in the last quarter. 0.66% of the stock is owned by company insiders.

Hubbell 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.