Janney Montgomery Scott LLC Raises Holdings in Hubbell Incorporated (NYSE:HUBB)

Janney Montgomery Scott LLC increased its position in Hubbell Incorporated (NYSE:HUBB) by 122.4% in the 4th quarter, Holdings Channel reports. The firm owned 28,723 shares of the industrial products company’s stock after buying an additional 15,806 shares during the period. Janney Montgomery Scott LLC’s holdings in Hubbell were worth $12,032,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in HUBB. OLD National Bancorp IN lifted its stake in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after buying an additional 22 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 25 shares during the period. JGP Wealth Management LLC raised its position in Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after purchasing an additional 26 shares during the last quarter. Avestar Capital LLC boosted its stake in Hubbell by 5.1% during the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 28 shares during the period. Finally, Ballentine Partners LLC grew its position in Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HUBB. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Mizuho increased their price objective on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays lifted their target price on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Price Performance

NYSE:HUBB opened at $455.56 on Monday. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. Hubbell Incorporated has a 12-month low of $326.13 and a 12-month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average is $442.63 and its two-hundred day moving average is $420.43.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.95 EPS. Research analysts expect that Hubbell Incorporated will post 16.48 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.