Franklin Parlapiano Turner & Welch LLC Trims Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Franklin Parlapiano Turner & Welch LLC lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,708 shares of the industrial products company's stock after selling 1,083 shares during the quarter. Hubbell accounts for about 2.7% of Franklin Parlapiano Turner & Welch LLC's portfolio, making the stock its 9th biggest position. Franklin Parlapiano Turner & Welch LLC's holdings in Hubbell were worth $9,931,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Groupama Asset Managment raised its stake in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,010 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Hubbell during the third quarter worth 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 stake in Hubbell in the 3rd quarter valued at approximately $41,000. Finally, Quarry LP acquired a new position in Hubbell during the 2nd quarter worth approximately $49,000. Institutional investors own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HUBB shares. JPMorgan Chase & Co. lowered shares of Hubbell from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price objective 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 initiated coverage on Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 target price on the stock. Morgan Stanley boosted their price target on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Barclays raised their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hubbell has an average rating of "Hold" and an average price target of $471.50.

Hubbell Stock Performance

HUBB stock traded up $11.48 during mid-day trading on Thursday, hitting $429.19. 285,633 shares of the company were exchanged, compared to its average volume of 539,677. Hubbell Incorporated has a 1-year low of $334.17 and a 1-year high of $481.35. The business has a 50 day simple moving average of $440.67 and a 200-day simple moving average of $420.88. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $23.03 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the business posted $3.95 earnings per share. Hubbell's quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Hubbell Incorporated will post 16.48 earnings per share for the current year.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm'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 transaction, the insider now directly owns 2,957 shares of the company's stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.