Forsta AP Fonden Has $11.61 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Forsta AP Fonden boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,100 shares of the industrial products company’s stock after buying an additional 1,800 shares during the quarter. Forsta AP Fonden owned approximately 0.05% of Hubbell worth $11,608,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Nvwm LLC bought a new position in shares of Hubbell in the first quarter valued at approximately $25,000. Quarry LP acquired a new position in Hubbell in the second quarter worth $49,000. Northwest Investment Counselors LLC bought a new stake in shares of Hubbell during the third quarter worth $58,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hubbell in the second quarter valued at $62,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of 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 buying an additional 35 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective 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 target on shares of Hubbell in a report on Friday, August 2nd. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Barclays lifted their target price on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley started coverage on Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price for the company. Five 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $428.13.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the 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 sale, 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

HUBB stock opened at $444.52 on Monday. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $461.77. 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 company has a market cap of $23.86 billion, a P/E ratio of 32.85, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90. The business’s fifty day moving average is $415.95 and its 200-day moving average is $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 the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.07 earnings per share. Equities research analysts forecast that Hubbell Incorporated will post 16.43 EPS 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.