Flagship Harbor Advisors LLC lifted its stake in Hubbell Incorporated (NYSE:HUBB – Free Report) by 17.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 693 shares of the industrial products company’s stock after purchasing an additional 104 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Hubbell were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of HUBB. Public Sector Pension Investment Board boosted its position in shares of Hubbell by 78.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 2,048 shares of the industrial products company’s stock valued at $749,000 after purchasing an additional 901 shares during the period. The Manufacturers Life Insurance Company boosted its position in Hubbell by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,538 shares of the industrial products company’s stock worth $11,892,000 after acquiring an additional 332 shares during the period. Creative Planning boosted its position in Hubbell by 31.9% during the 2nd quarter. Creative Planning now owns 3,473 shares of the industrial products company’s stock worth $1,269,000 after acquiring an additional 839 shares during the period. Quarry LP acquired a new stake in Hubbell during the 2nd quarter worth about $49,000. Finally, Cetera Investment Advisers boosted its position in Hubbell by 8.2% during the 2nd quarter. Cetera Investment Advisers now owns 6,484 shares of the industrial products company’s stock worth $2,370,000 after acquiring an additional 493 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on HUBB shares. Morgan Stanley raised their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays lifted their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Sanford C. Bernstein started coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $471.50.
Hubbell Stock Up 1.1 %
Shares of HUBB stock opened at $417.96 on Thursday. The stock’s 50 day simple moving average is $440.67 and its 200 day simple moving average is $420.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a twelve month low of $329.24 and a twelve month high of $481.35. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 1.57 and a beta of 0.93.
Hubbell (NYSE:HUBB – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.95 EPS. As a group, research analysts predict that Hubbell Incorporated will post 16.48 EPS for the current year.
Insiders Place Their Bets
In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred 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 of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.
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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