Hubbell Incorporated (NYSE:HUBB) Shares Sold by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,590 shares of the industrial products company’s stock after selling 247 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Hubbell were worth $1,570,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Groupama Asset Managment boosted its holdings in Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell during the 3rd quarter valued at $33,000. Versant Capital Management Inc boosted its stake in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell in the 3rd quarter worth $41,000. Finally, Quarry LP acquired a new stake in shares of Hubbell during the second quarter worth $49,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HUBB shares. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Morgan Stanley lifted their target price 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. Mizuho upped their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company lowered their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $471.50.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The shares were 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. This represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Down 0.4 %

HUBB stock opened at $412.85 on Wednesday. The company has a 50 day moving average of $441.23 and a two-hundred day moving average of $420.90. 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 Incorporated has a 12-month low of $326.13 and a 12-month high of $481.35. The company has a market cap of $22.16 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.57 and a beta of 0.93.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $3.95 earnings per share. Hubbell’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Hubbell Incorporated will post 16.48 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.