IFM Investors Pty Ltd Has $4.81 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

IFM Investors Pty Ltd cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,231 shares of the industrial products company’s stock after selling 179 shares during the period. IFM Investors Pty Ltd’s holdings in Hubbell were worth $4,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in Hubbell by 4.1% in the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock valued at $66,571,000 after buying an additional 6,275 shares during the period. IFG Advisory LLC acquired a new position in shares of Hubbell in the 2nd quarter valued at $475,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of Hubbell by 81.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock worth $22,565,000 after purchasing an additional 24,321 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Hubbell by 304.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock worth $4,685,000 after purchasing an additional 8,497 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC acquired a new stake in shares of Hubbell during the first quarter worth $1,868,000. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HUBB. Wells Fargo & Company increased their target price on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Mizuho upped their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays lifted their price target on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $428.13.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Hubbell Price Performance

HUBB stock opened at $444.52 on Friday. The stock has a 50-day moving average price of $415.95 and a two-hundred day moving average price of $394.66. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $461.77. The stock has a market cap of $23.86 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. Hubbell’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $4.07 earnings per share. Equities analysts forecast that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

About Hubbell

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.