Hubbell Incorporated (NYSE:HUBB) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,489 shares of the industrial products company’s stock after selling 106 shares during the period. Assenagon Asset Management S.A.’s holdings in Hubbell were worth $1,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBB. Mizuho Securities USA LLC increased its stake in shares of Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after buying an additional 7,975,855 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares in the last quarter. Impax Asset Management Group plc increased its position in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Hubbell by 268.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after purchasing an additional 168,380 shares during the last quarter. Finally, LGT Capital Partners LTD. acquired a new stake in shares of Hubbell in the 3rd quarter valued at about $39,687,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’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 completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Up 0.4 %

Hubbell stock opened at $455.56 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $442.63 and a two-hundred day moving average price of $419.77. The firm has a market capitalization of $24.45 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 1.57 and a beta of 0.93. Hubbell Incorporated has a 52-week low of $326.13 and a 52-week high of $481.35.

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 business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $3.95 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Hubbell Incorporated will post 16.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Hubbell presently has an average rating of “Hold” and an average price target of $471.50.

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.