Occidental Asset Management LLC grew its holdings in Hubbell Incorporated (NYSE:HUBB – Free Report) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,681 shares of the industrial products company’s stock after purchasing an additional 215 shares during the period. Hubbell comprises 0.8% of Occidental Asset Management LLC’s portfolio, making the stock its 22nd largest holding. Occidental Asset Management LLC’s holdings in Hubbell were worth $3,541,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Rockefeller Capital Management L.P. increased its holdings in shares of Hubbell by 1.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,251 shares of the industrial products company’s stock valued at $527,000 after purchasing an additional 42 shares during the period. SeaCrest Wealth Management LLC grew its stake in shares of Hubbell by 0.3% in the 1st quarter. SeaCrest Wealth Management LLC now owns 14,595 shares of the industrial products company’s stock valued at $3,551,000 after buying an additional 42 shares in the last quarter. Glenview Trust co grew its stake in shares of Hubbell by 2.2% in the 1st quarter. Glenview Trust co now owns 2,383 shares of the industrial products company’s stock valued at $580,000 after buying an additional 52 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Hubbell by 55.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 149 shares of the industrial products company’s stock valued at $36,000 after buying an additional 53 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in Hubbell by 122.7% during the first quarter. Global Retirement Partners LLC now owns 98 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 85.97% of the company’s stock.
Wall Street Analysts Forecast Growth
HUBB has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Hubbell from $287.00 to $318.00 in a research report on Monday, July 10th. StockNews.com initiated coverage on Hubbell in a research report on Thursday, August 17th. They set a “buy” rating for the company. Wolfe Research raised Hubbell from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 11th. Finally, Mizuho upped their target price on Hubbell from $300.00 to $370.00 in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Hubbell presently has an average rating of “Hold” and a consensus target price of $265.17.
Insiders Place Their Bets
In other Hubbell news, CFO William R. Sperry sold 4,040 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $313.72, for a total transaction of $1,267,428.80. Following the transaction, the chief financial officer now owns 52,773 shares of the company’s stock, valued at approximately $16,555,945.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO William R. Sperry sold 4,040 shares of Hubbell stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $313.72, for a total transaction of $1,267,428.80. Following the completion of the transaction, the chief financial officer now directly owns 52,773 shares in the company, valued at approximately $16,555,945.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 2,293 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $314.30, for a total value of $720,689.90. Following the completion of the sale, the insider now owns 3,471 shares of the company’s stock, valued at $1,090,935.30. The disclosure for this sale can be found here. Insiders have sold 12,228 shares of company stock valued at $3,839,856 in the last 90 days. 0.66% of the stock is currently owned by insiders.
Hubbell Stock Up 2.2 %
Shares of NYSE HUBB traded up $7.06 during mid-day trading on Monday, reaching $322.91. 86,677 shares of the company’s stock were exchanged, compared to its average volume of 428,849. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.09 and a beta of 0.98. The company has a current ratio of 2.06, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $319.07 and a 200 day simple moving average of $288.04. Hubbell Incorporated has a twelve month low of $209.96 and a twelve month high of $340.06.
Hubbell (NYSE:HUBB – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $4.07 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.44. Hubbell had a return on equity of 29.48% and a net margin of 12.55%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm posted $2.81 earnings per share. Hubbell’s revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts expect that Hubbell Incorporated will post 15.32 EPS for the current fiscal year.
Hubbell Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Wednesday, August 30th. Hubbell’s dividend payout ratio (DPR) is 37.24%.
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.
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