Lebenthal Global Advisors LLC purchased a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 783 shares of the industrial products company's stock, valued at approximately $328,000.
A number of other institutional investors have also made changes to their positions in the stock. Groupama Asset Managment lifted its holdings in shares of Hubbell by 17.0% during 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 in the last quarter. Prospera Private Wealth LLC bought a new position in Hubbell in the third quarter valued at approximately $33,000. Versant Capital Management Inc boosted its holdings in shares of Hubbell by 64.6% in the fourth 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 period. Ashton Thomas Securities LLC bought a new stake in shares of Hubbell during the third quarter worth $41,000. Finally, Quarry LP acquired a new stake in shares of Hubbell during the second quarter worth $49,000. 88.16% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
HUBB has been the subject of several research reports. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Tuesday. Wells Fargo & Company decreased their price target on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Morgan Stanley upped their price objective on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Mizuho raised 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. Finally, Sanford C. Bernstein began coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of "Hold" and an average price target of $471.50.
View Our Latest Analysis on Hubbell
Insider Transactions at Hubbell
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 completion of the sale, the insider now directly owns 2,957 shares in the company, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company's stock.
Hubbell Price Performance
Hubbell stock traded up $4.60 during trading hours on Wednesday, reaching $417.96. 605,970 shares of the stock were exchanged, compared to its average volume of 554,186. The stock has a 50 day moving average of $440.67 and a two-hundred day moving average of $420.88. The company has a market cap of $22.43 billion, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a twelve month low of $329.24 and a twelve month high of $481.35.
Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $3.95 earnings per share. Equities analysts expect that Hubbell Incorporated will post 16.48 EPS for the current fiscal year.
Hubbell Profile
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Free Report)
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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