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

Occidental Asset Management LLC boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,325 shares of the industrial products company’s stock after buying an additional 81 shares during the period. Occidental Asset Management LLC’s holdings in Hubbell were worth $4,744,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HUBB. Envestnet Asset Management Inc. boosted its position in shares of Hubbell by 7.8% during the second quarter. Envestnet Asset Management Inc. now owns 69,492 shares of the industrial products company’s stock worth $25,398,000 after buying an additional 5,037 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Hubbell by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company’s stock worth $137,622,000 after purchasing an additional 22,951 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Hubbell in the second quarter valued at approximately $2,781,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Hubbell by 2.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,578 shares of the industrial products company’s stock valued at $4,232,000 after purchasing an additional 297 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Hubbell by 6.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,584 shares of the industrial products company’s stock worth $3,130,000 after buying an additional 543 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $433.80 on Friday. The firm has a market capitalization of $23.28 billion, a PE ratio of 31.25, a P/E/G ratio of 1.45 and a beta of 0.93. The stock’s 50 day moving average is $443.15 and its two-hundred day moving average is $416.47. Hubbell Incorporated has a twelve month low of $319.06 and a twelve month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.95 EPS. Research analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is 38.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Barclays increased their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $471.50.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.78% of the stock is currently owned by company insiders.

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.