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

Janney Montgomery Scott LLC boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 122.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,723 shares of the industrial products company’s stock after purchasing an additional 15,806 shares during the period. Janney Montgomery Scott LLC owned about 0.05% of Hubbell worth $12,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell in the third quarter worth about $33,000. Versant Capital Management Inc lifted its holdings in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Hubbell in the 3rd quarter worth approximately $41,000. Quarry LP acquired a new stake in shares of Hubbell during the 2nd quarter worth approximately $49,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Hubbell during the 3rd quarter valued at approximately $58,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HUBB has been the topic of several analyst reports. Mizuho raised 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. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Morgan Stanley lifted their price target on 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 lowered their price target on 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, Barclays boosted their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Hubbell has an average rating of “Hold” and a consensus target price of $471.50.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction on 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 directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Up 0.4 %

Shares of NYSE HUBB opened at $455.56 on Monday. The company has a market capitalization of $24.45 billion, a P/E ratio of 32.82, a P/E/G ratio of 1.57 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company has a 50 day simple moving average of $442.63 and a 200-day simple moving average of $420.43. Hubbell Incorporated has a 1 year low of $326.13 and a 1 year 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. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $3.95 EPS. On average, equities research analysts predict that Hubbell Incorporated will post 16.48 earnings per share 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.