Exchange Traded Concepts LLC Has $3.71 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Exchange Traded Concepts LLC raised its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 28.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,848 shares of the industrial products company’s stock after purchasing an additional 1,957 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Hubbell were worth $3,706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HUBB. Prospera Private Wealth LLC acquired a new position in Hubbell during the third quarter valued at approximately $33,000. Versant Capital Management Inc grew its holdings in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Hubbell in the 3rd quarter valued at $41,000. Quarry LP bought a new stake in shares of Hubbell in the 2nd quarter valued at $49,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Hubbell during the 3rd quarter worth $58,000. 88.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HUBB has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays lifted their price target on shares of 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 increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Hubbell has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Stock Up 0.4 %

Hubbell stock opened at $455.56 on Friday. The company has a fifty day simple moving average of $442.63 and a 200 day simple moving average of $420.11. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 1-year low of $326.13 and a 1-year high of $481.35. The company has a market cap of $24.45 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93.

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

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

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.