Hubbell Inc $HUBB Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in Hubbell Inc (NYSE:HUBB) by 50.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,336 shares of the industrial products company’s stock after selling 11,687 shares during the period. Retirement Systems of Alabama’s holdings in Hubbell were worth $4,878,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HUBB. Jones Financial Companies Lllp increased its stake in shares of Hubbell by 171.9% in the first quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 1,518 shares during the period. Empowered Funds LLC boosted its holdings in Hubbell by 18.9% during the first quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company’s stock worth $408,000 after buying an additional 196 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Hubbell by 271.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 155 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Hubbell in the 1st quarter worth about $599,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Hubbell by 9.7% during the second quarter. Janney Montgomery Scott LLC now owns 31,317 shares of the industrial products company’s stock valued at $12,790,000 after acquiring an additional 2,772 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of NYSE HUBB opened at $488.11 on Friday. The stock has a market capitalization of $25.94 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.52 and a beta of 1.02. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $501.32. The business has a 50-day moving average of $457.30 and a 200-day moving average of $442.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating the consensus estimate of $4.98 by $0.19. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.49 earnings per share. As a group, sell-side analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley set a $515.00 target price on Hubbell in a research note on Wednesday, January 7th. Wells Fargo & Company boosted their price objective on Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Mizuho upped their price target on Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. UBS Group reaffirmed a “neutral” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, December 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $497.25.

Insiders Place Their Bets

In related news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the completion of the transaction, the insider owned 3,243 shares of the company’s stock, valued at $1,525,247.76. This represents a 38.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total value of $1,152,255.00. Following the sale, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

About Hubbell

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.