New York State Common Retirement Fund Has $31.12 Million Stake in Hubbell Incorporated (NYSE:HUBB)

New York State Common Retirement Fund decreased its holdings in Hubbell Incorporated (NYSE:HUBB) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,613 shares of the industrial products company’s stock after selling 7,616 shares during the period. New York State Common Retirement Fund owned about 0.18% of Hubbell worth $31,121,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in HUBB. Lindbrook Capital LLC grew its stake in shares of Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after buying an additional 51 shares in the last quarter. Baillie Gifford & Co. bought a new stake in shares of Hubbell in the 4th quarter valued at approximately $33,000. Sentry Investment Management LLC bought a new stake in shares of Hubbell in the 4th quarter valued at approximately $91,000. Grove Bank & Trust grew its stake in shares of Hubbell by 14.3% in the 3rd quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock valued at $125,000 after buying an additional 50 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Hubbell by 43.2% in the 4th quarter. Blue Trust Inc. now owns 424 shares of the industrial products company’s stock valued at $133,000 after buying an additional 128 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Up 0.9 %

HUBB opened at $402.27 on Friday. The business has a 50 day moving average of $394.99 and a 200-day moving average of $341.94. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $21.57 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 2.43 and a beta of 0.94. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. Hubbell’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 earnings per share. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Mizuho upped their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company upped their target price on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays upped their target price on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $383.57.

Insiders Place Their Bets

In other Hubbell news, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the transaction, the vice president now directly owns 3,646 shares in the company, valued at $1,286,090.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the sale, the chief executive officer now owns 51,783 shares in the company, valued at $18,286,130.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the sale, the vice president now owns 3,646 shares in the company, valued at approximately $1,286,090.04. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $12,065,100 over the last three months. 0.66% of the stock is currently owned by corporate insiders.

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.