Avior Wealth Management LLC Lowers Holdings in Hubbell Incorporated (NYSE:HUBB)

Avior Wealth Management LLC lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 65.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 620 shares of the industrial products company’s stock after selling 1,185 shares during the quarter. Avior Wealth Management LLC’s holdings in Hubbell were worth $260,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board raised its position in shares of Hubbell by 78.6% during the second quarter. Public Sector Pension Investment Board now owns 2,048 shares of the industrial products company’s stock valued at $749,000 after buying an additional 901 shares during the last quarter. Marshall Wace LLP purchased a new position in Hubbell during the second quarter valued at $9,288,000. Squarepoint Ops LLC lifted its stake in Hubbell by 1,054.3% in the 2nd quarter. Squarepoint Ops LLC now owns 16,784 shares of the industrial products company’s stock worth $6,134,000 after purchasing an additional 15,330 shares in the last quarter. APG Asset Management N.V. boosted its holdings in shares of Hubbell by 260.0% during the 2nd quarter. APG Asset Management N.V. now owns 5,400 shares of the industrial products company’s stock valued at $1,841,000 after purchasing an additional 3,900 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new position in shares of Hubbell during the second quarter valued at about $1,425,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on HUBB. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Mizuho lifted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Hubbell presently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Trading Down 9.0 %

HUBB stock opened at $414.22 on Tuesday. The firm’s fifty day simple moving average is $442.63 and its two-hundred day simple moving average is $420.43. The stock has a market capitalization of $22.23 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a twelve month low of $326.13 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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 net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $3.95 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that Hubbell Incorporated will post 16.48 earnings per share for the current year.

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.