NorthCrest Asset Manangement LLC Trims Position in Hubbell Incorporated (NYSE:HUBB)

NorthCrest Asset Manangement LLC lessened its stake in Hubbell Incorporated (NYSE:HUBB) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,211 shares of the industrial products company’s stock after selling 143 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Hubbell were worth $8,229,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Nvwm LLC purchased a new position in Hubbell during the 1st quarter worth $25,000. Quarry LP acquired a new stake in Hubbell in the second quarter valued at about $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell in the 3rd quarter valued at approximately $58,000. Ashton Thomas Private Wealth LLC acquired a new position in Hubbell during the 2nd quarter worth approximately $62,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after buying an additional 35 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on HUBB. Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their target price for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley started coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target for the company. Barclays upped their price target on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $428.13.

Insiders Place Their Bets

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

Hubbell Trading Down 1.3 %

NYSE:HUBB traded down $5.66 on Friday, reaching $444.52. The stock had a trading volume of 376,674 shares, compared to its average volume of 335,802. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $461.77. The company has a market cap of $23.86 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 1.66 and a beta of 0.90. The firm’s fifty day moving average is $415.95 and its two-hundred day moving average is $394.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 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 firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $4.07 EPS. Hubbell’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts expect that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell 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.