Hubbell Incorporated (NYSE:HUBB) Position Lessened by Valley National Advisers Inc.

Valley National Advisers Inc. lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 54.7% in the third quarter, HoldingsChannel reports. The firm owned 393 shares of the industrial products company’s stock after selling 474 shares during the quarter. Valley National Advisers Inc.’s holdings in Hubbell were worth $168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Nvwm LLC acquired a new position in shares of Hubbell during the first quarter valued at $25,000. Quarry LP acquired a new stake in shares of Hubbell in the 2nd quarter worth about $49,000. Northwest Investment Counselors LLC bought a new stake in Hubbell in the 3rd quarter valued at about $58,000. Ashton Thomas Private Wealth LLC acquired a new position in Hubbell during the 2nd quarter valued at about $62,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 35 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Hubbell Price Performance

NYSE:HUBB opened at $444.52 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $415.95 and its 200 day moving average price is $394.66. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $461.77. The firm has a market cap of $23.86 billion, a P/E ratio of 32.85, a PEG ratio of 1.66 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company posted $4.07 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Barclays increased their target price on shares of Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $428.13.

About Hubbell

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.