Avior Wealth Management LLC Reduces Position in Hubbell Incorporated (NYSE:HUBB)

Avior Wealth Management LLC cut its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 65.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc raised its position in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after buying an additional 31 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Hubbell during the 3rd quarter valued at $41,000. Quarry LP purchased a new stake in shares of Hubbell in the second quarter valued at about $49,000. Finally, Northwest Investment Counselors LLC purchased a new position in Hubbell during the third quarter worth about $58,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley lifted their price target on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered shares of Hubbell from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Barclays raised 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 cut their target price on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Finally, Sanford C. Bernstein assumed coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price objective for the company. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Hubbell currently has a consensus rating of "Hold" and an average price target of $471.50.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Down 0.4 %

Shares of NYSE HUBB traded down $1.68 during midday trading on Tuesday, hitting $412.85. The stock had a trading volume of 896,819 shares, compared to its average volume of 551,142. Hubbell Incorporated has a 52 week low of $326.13 and a 52 week high of $481.35. The business's 50 day moving average is $441.23 and its 200-day moving average is $420.90. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company has a market cap of $22.16 billion, a P/E ratio of 29.74, a PEG ratio of 1.57 and a beta of 0.93.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 13.33% and a return on equity of 28.81%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.95 earnings per share. As a group, analysts predict that Hubbell Incorporated will post 16.48 EPS for the current year.

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.