CENTRAL TRUST Co Cuts Stake in Hubbell Incorporated (NYSE:HUBB)

CENTRAL TRUST Co cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 30.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166 shares of the industrial products company’s stock after selling 72 shares during the period. CENTRAL TRUST Co’s holdings in Hubbell were worth $71,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HUBB. Nordea Investment Management AB lifted its holdings in shares of Hubbell by 4.1% in the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after buying an additional 6,275 shares in the last quarter. IFG Advisory LLC purchased a new stake in shares of Hubbell during the 2nd quarter valued at about $475,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Hubbell by 81.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock valued at $22,565,000 after purchasing an additional 24,321 shares during the last quarter. Sustainable Insight Capital Management LLC purchased a new position in Hubbell during the first quarter worth $1,868,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after purchasing an additional 1,252 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HUBB has been the subject of a number of recent analyst reports. Morgan Stanley began coverage on Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective for the company. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Barclays raised their target price on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Mizuho boosted their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Five investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $428.13.

Insider Buying and Selling at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on Friday, August 9th. The shares were 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 of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 completion of the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $444.52 on Monday. The firm has a 50 day moving average of $415.95 and a 200 day moving average of $394.66. 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 capitalization of $23.86 billion, a price-to-earnings ratio of 32.85, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $461.77.

Hubbell (NYSE:HUBB) last released its quarterly 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 return on equity of 28.98% and a net margin of 13.14%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $4.07 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Hubbell Incorporated will post 16.43 earnings per share 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.