Occidental Asset Management LLC Increases Holdings in Hubbell Incorporated (NYSE:HUBB)

Occidental Asset Management LLC grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,795 shares of the industrial products company’s stock after purchasing an additional 169 shares during the quarter. Hubbell makes up 0.8% of Occidental Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Occidental Asset Management LLC’s holdings in Hubbell were worth $4,480,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HUBB. International Assets Investment Management LLC increased its holdings in Hubbell by 32,734.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after acquiring an additional 1,468,463 shares during the last quarter. Vanguard Group Inc. increased its holdings in Hubbell by 15.9% in the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after acquiring an additional 918,808 shares during the last quarter. Norges Bank purchased a new stake in Hubbell in the 4th quarter worth about $143,024,000. Massachusetts Financial Services Co. MA increased its holdings in Hubbell by 24.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock worth $417,267,000 after acquiring an additional 248,493 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in Hubbell by 575.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock worth $94,793,000 after acquiring an additional 245,536 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of HUBB traded down $4.36 during trading hours on Friday, reaching $365.48. 1,829,822 shares of the company’s stock traded hands, compared to its average volume of 529,360. The stock has a market cap of $19.62 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. The firm’s 50 day simple moving average is $388.27 and its 200-day simple moving average is $371.99. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61.

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

Hubbell Announces Dividend

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective for the company. Mizuho lifted their target price on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company reduced their target price on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Finally, Barclays reduced their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

About Hubbell

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.