Hubbell Incorporated (NYSE:HUBB) Shares Acquired by Occidental Asset Management LLC

Occidental Asset Management LLC raised its stake in Hubbell Incorporated (NYSE:HUBB) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 11,325 shares of the industrial products company’s stock after purchasing 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.

Several other institutional investors also recently made changes to their positions in the stock. Empirical Asset Management LLC acquired a new stake in Hubbell during the 4th quarter worth approximately $5,288,000. JGP Wealth Management LLC increased its position in shares of Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after acquiring an additional 26 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Hubbell by 20.7% in the fourth quarter. Park Avenue Securities LLC now owns 2,583 shares of the industrial products company’s stock worth $1,082,000 after acquiring an additional 443 shares in the last quarter. Kathmere Capital Management LLC raised its stake in shares of Hubbell by 14.9% in the 4th quarter. Kathmere Capital Management LLC now owns 602 shares of the industrial products company’s stock valued at $252,000 after acquiring an additional 78 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Hubbell by 13.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 861 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 104 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Hubbell currently has an average rating of “Hold” and an average price target of $471.50.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.78% of the stock is currently owned by corporate insiders.

Hubbell Price Performance

HUBB opened at $433.80 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $443.15 and its 200 day moving average price is $416.47. Hubbell Incorporated has a fifty-two week low of $319.06 and a fifty-two week high of $481.35. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93.

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

Hubbell Increases Dividend

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

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.