Smith Group Asset Management LLC Acquires 1,049 Shares of Hubbell Incorporated (NYSE:HUBB)

Smith Group Asset Management LLC boosted its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,042 shares of the industrial products company's stock after purchasing an additional 1,049 shares during the quarter. Hubbell comprises about 2.1% of Smith Group Asset Management LLC's holdings, making the stock its 19th biggest position. Smith Group Asset Management LLC owned 0.12% of Hubbell worth $28,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Groupama Asset Managment increased its position in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock worth $30,000 after acquiring an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Hubbell during the 3rd quarter worth approximately $33,000. Versant Capital Management Inc lifted 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 purchasing an additional 31 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell during the third quarter valued at approximately $41,000. Finally, Quarry LP bought a new stake in Hubbell during the second quarter worth $49,000. 88.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company's stock.

Hubbell Stock Performance

Shares of NYSE HUBB traded up $4.60 during mid-day trading on Wednesday, hitting $417.96. The company had a trading volume of 605,970 shares, compared to its average volume of 554,186. The stock's 50-day moving average price is $441.23 and its 200-day moving average price is $420.90. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 30.11, a P/E/G 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 1 year low of $329.24 and a 1 year high of $481.35.

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 for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $3.95 EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.48 earnings per share for the current year.

Analysts Set New Price Targets

HUBB has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered shares of Hubbell from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Barclays lifted their price target on Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Finally, StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Hubbell currently has an average rating of "Hold" and an average target price of $471.50.

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.