Forsta AP Fonden Has $11.06 Million Position in Hubbell Incorporated (NYSE:HUBB)

Forsta AP Fonden trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,400 shares of the industrial products company’s stock after selling 700 shares during the period. Forsta AP Fonden’s holdings in Hubbell were worth $11,059,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment boosted its position in shares of Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Hubbell during the third quarter worth $33,000. Versant Capital Management Inc boosted 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 purchasing an additional 31 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Hubbell in the 3rd quarter valued at $41,000. Finally, Quarry LP acquired a new position in shares of Hubbell during the 2nd quarter worth $49,000. 88.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HUBB shares. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Hubbell has a consensus rating of “Hold” and a consensus price target of $471.50.

Hubbell Stock Performance

NYSE HUBB opened at $426.92 on Friday. The company has a market capitalization of $22.91 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 1.57 and a beta of 0.93. Hubbell Incorporated has a twelve month low of $334.17 and a twelve month high of $481.35. The stock has a fifty day simple moving average of $440.67 and a 200 day simple moving average of $420.88. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $3.95 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Hubbell Incorporated will post 16.48 EPS for the current year.

About Hubbell

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.