Occidental Asset Management LLC Has $3.31 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

by · The Cerbat Gem

Occidental Asset Management LLC lowered its stake in Hubbell Incorporated (NYSE:HUBB – Free Report) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,558 shares of the industrial products company’s stock after selling 123 shares during the quarter. Hubbell comprises approximately 0.8% of Occidental Asset Management LLC’s holdings, making the stock its 27th largest holding. Occidental Asset Management LLC’s holdings in Hubbell were worth $3,309,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in HUBB. Exchange Traded Concepts LLC grew its holdings in shares of Hubbell by 273.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,197 shares of the industrial products company’s stock valued at $689,000 after acquiring an additional 1,609 shares in the last quarter. Founders Financial Securities LLC bought a new position in Hubbell during the third quarter worth about $219,000. Capital Investment Advisors LLC acquired a new stake in Hubbell during the third quarter worth approximately $262,000. Edmonds Duncan Registered Investment Advisors LLC lifted its position in Hubbell by 7.6% during the third quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 834 shares of the industrial products company’s stock worth $261,000 after acquiring an additional 59 shares during the last quarter. Finally, Tevis Investment Management lifted its position in Hubbell by 4.0% during the third quarter. Tevis Investment Management now owns 960 shares of the industrial products company’s stock worth $301,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 85.97% of the company’s stock.

Hubbell Trading Up 0.2 %

Shares of Hubbell stock traded up $0.82 during trading on Wednesday, hitting $329.71. The company’s stock had a trading volume of 37,317 shares, compared to its average volume of 489,081. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.16 and a quick ratio of 1.43. Hubbell Incorporated has a 52 week low of $219.77 and a 52 week high of $340.06. The stock has a market cap of $17.68 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.15 and a beta of 0.93. The stock has a 50-day moving average price of $298.47 and a two-hundred day moving average price of $310.67.

Hubbell (NYSE:HUBB – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $3.95 earnings per share for the quarter, missing the consensus estimate of $4.07 by ($0.12). Hubbell had a return on equity of 30.09% and a net margin of 13.56%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm earned $3.08 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Hubbell Incorporated will post 15.16 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a $1.22 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.12. The ex-dividend date was Wednesday, November 29th. This represents a $4.88 annualized dividend and a yield of 1.48%. Hubbell’s payout ratio is presently 37.08%.

Insider Activity at Hubbell

In other news, Director John F. Malloy bought 797 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average price of $313.50 per share, for a total transaction of $249,859.50. Following the completion of the acquisition, the director now directly owns 17,923 shares in the company, valued at $5,618,860.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John F. Malloy acquired 797 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were purchased at an average price of $313.50 per share, for a total transaction of $249,859.50. Following the completion of the acquisition, the director now owns 17,923 shares of the company’s stock, valued at $5,618,860.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Nero Jonathan M. Del sold 1,902 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $285.54, for a total transaction of $543,097.08. Following the transaction, the vice president now owns 3,646 shares in the company, valued at approximately $1,041,078.84. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Hubbell from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $333.00 to $335.00 in a research report on Friday, November 17th. TD Cowen assumed coverage on shares of Hubbell in a research report on Friday, December 8th. They issued an “outperform” rating and a $338.00 price target for the company. Seaport Res Ptn reiterated a “buy” rating on shares of Hubbell in a research report on Wednesday, November 8th. Barclays began coverage on shares of Hubbell in a research note on Monday, December 4th. They issued an “equal weight” rating and a $325.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Hubbell from $300.00 to $351.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $319.63.

Read Our Latest Stock Report on HUBB

About Hubbell

(Free Report)

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.

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