Deprince Race & Zollo Inc. reduced its position in Hubbell Incorporated (NYSE:HUBB) by 5.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 180,606 shares of the industrial products company’s stock after selling 10,061 shares during the period. Deprince Race & Zollo Inc. owned 0.33% of Hubbell worth $21,308,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Oakbrook Investments LLC raised its stake in Hubbell by 7.1% in the 1st quarter. Oakbrook Investments LLC now owns 6,425 shares of the industrial products company’s stock valued at $758,000 after acquiring an additional 425 shares during the period. Meeder Asset Management Inc. raised its stake in Hubbell by 228.4% in the 1st quarter. Meeder Asset Management Inc. now owns 1,146 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 797 shares during the period. BTIM Corp. raised its stake in Hubbell by 6.2% in the 1st quarter. BTIM Corp. now owns 548,786 shares of the industrial products company’s stock valued at $64,746,000 after acquiring an additional 31,953 shares during the period. Louisiana State Employees Retirement System raised its stake in Hubbell by 0.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the industrial products company’s stock valued at $1,723,000 after acquiring an additional 100 shares during the period. Finally, W.E. Donoghue & Co. LLC bought a new stake in Hubbell in the 1st quarter valued at about $992,000. Institutional investors and hedge funds own 86.56% of the company’s stock.
HUBB traded up $0.89 during midday trading on Thursday, hitting $126.05. The stock had a trading volume of 5,441 shares, compared to its average volume of 367,717. The firm has a market cap of $6.83 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.54 and a beta of 1.44. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.96 and a quick ratio of 1.18. Hubbell Incorporated has a 1 year low of $91.88 and a 1 year high of $137.67.
HUBB has been the topic of several analyst reports. ValuEngine cut Hubbell from a “hold” rating to a “sell” rating in a research report on Wednesday, January 9th. Oppenheimer reiterated a “market perform” rating on shares of Hubbell in a research report on Tuesday, January 8th. CIBC reaffirmed a “market perform” rating on shares of Hubbell in a research note on Tuesday, January 8th. Zacks Investment Research lowered Hubbell from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, JMP Securities set a $146.00 target price on Hubbell and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $133.29.
In other news, VP An-Ping Hsieh sold 6,315 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $122.32, for a total transaction of $772,450.80. Following the completion of the sale, the vice president now owns 24,376 shares of the company’s stock, valued at $2,981,672.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.
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Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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