SRN Advisors LLC Sells 140 Shares of Hubbell Incorporated (NYSE:HUBB)

SRN Advisors LLC reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,013 shares of the industrial products company’s stock after selling 140 shares during the quarter. Hubbell accounts for 1.5% of SRN Advisors LLC’s holdings, making the stock its 18th biggest holding. SRN Advisors LLC’s holdings in Hubbell were worth $1,719,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of HUBB. Nvwm LLC acquired a new position in Hubbell during the first quarter valued at approximately $25,000. Quarry LP bought a new stake in shares of Hubbell during the 2nd quarter worth $49,000. Northwest Investment Counselors LLC bought a new stake in shares of Hubbell during the 3rd quarter worth $58,000. Ashton Thomas Private Wealth LLC acquired a new stake in Hubbell in the second quarter valued at about $62,000. Finally, Massmutual Trust Co. FSB ADV grew its position in Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HUBB shares. Wells Fargo & Company increased their target price on shares of Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and increased their price target for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. lowered 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. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $428.13.

Hubbell Trading Down 1.3 %

Shares of HUBB stock opened at $444.52 on Friday. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $461.77. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $23.86 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 1.66 and a beta of 0.90. The stock has a 50-day moving average of $415.95 and a 200-day moving average of $394.66.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.07 EPS. On average, equities research analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current year.

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.