Occidental Asset Management LLC Takes $7.12 Million Position in Hubbell Inc $HUBB

Key Points

• Occidental Asset Management acquired 13,611 Hubbell shares worth approximately $7.12 million in the second quarter. Institutional investors collectively own 88.16% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $554.38.
• Hubbell exceeded quarterly expectations, reporting $5.52 in EPS and $1.71 billion in revenue, up 15.3% year over year. The company also declared a quarterly dividend of $1.42 per share, equivalent to a 1.1% annual yield.

Occidental Asset Management LLC purchased a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 13,611 shares of the industrial products company's stock, valued at approximately $7,121,000.

Other hedge funds have also bought and sold shares of the company. DNB Asset Management AS increased its position in Hubbell by 4.9% in the fourth quarter. DNB Asset Management AS now owns 38,865 shares of the industrial products company's stock worth $17,260,000 after buying an additional 1,832 shares during the last quarter. Swedbank AB lifted its position in shares of Hubbell by 19.2% during the 1st quarter. Swedbank AB now owns 32,380 shares of the industrial products company's stock valued at $15,890,000 after buying an additional 5,218 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Hubbell by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 205,775 shares of the industrial products company's stock worth $91,396,000 after acquiring an additional 7,100 shares during the period. Vest Financial LLC bought a new position in shares of Hubbell during the 4th quarter worth $1,589,000. Finally, Davidson Capital Management Inc. purchased a new stake in Hubbell in the 4th quarter worth about $1,566,000. 88.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent research reports. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Stephens lifted their target price on shares of Hubbell from $550.00 to $600.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Sanford C. Bernstein reissued an "outperform" rating on shares of Hubbell in a research report on Wednesday, July 29th. Wells Fargo & Company upped their price target on shares of Hubbell from $530.00 to $560.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, UBS Group reaffirmed a "neutral" rating and issued a $515.00 price objective on shares of Hubbell in a report on Tuesday, June 16th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $554.38.

Insider Activity at Hubbell

In other news, VP Nero Jonathan M. Del sold 547 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the transaction, the vice president owned 2,933 shares of the company's stock, valued at approximately $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by company insiders.

Hubbell Trading Down 1.3%

Shares of Hubbell stock opened at $504.73 on Tuesday. Hubbell Inc has a 12-month low of $403.82 and a 12-month high of $565.50. The company has a market cap of $26.66 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 2.51 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22. The company's 50-day moving average price is $495.84 and its 200-day moving average price is $498.91.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.39 by $0.13. The company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.66 billion. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. Hubbell's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, equities analysts expect that Hubbell Inc will post 20.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. Hubbell's payout ratio is 33.63%.

About Hubbell

Hubbell Incorporated NYSE: HUBB is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company's offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source