Teacher Retirement System of Texas Has $3.03 Million Holdings in Hubbell Inc $HUBB

Teacher Retirement System of Texas trimmed its stake in Hubbell Inc (NYSE:HUBB) by 33.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,032 shares of the industrial products company’s stock after selling 3,543 shares during the quarter. Teacher Retirement System of Texas’ holdings in Hubbell were worth $3,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. McKinley Carter Wealth Services Inc. raised its holdings in Hubbell by 16.7% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after acquiring an additional 2,843 shares during the period. Belpointe Asset Management LLC acquired a new stake in shares of Hubbell in the second quarter valued at about $320,000. Venturi Wealth Management LLC bought a new position in shares of Hubbell in the second quarter worth about $490,000. Nordea Investment Management AB lifted its position in shares of Hubbell by 15.7% during the 3rd quarter. Nordea Investment Management AB now owns 203,399 shares of the industrial products company’s stock worth $87,333,000 after purchasing an additional 27,576 shares during the last quarter. Finally, Walter Public Investments Inc. boosted its stake in Hubbell by 33.3% during the 3rd quarter. Walter Public Investments Inc. now owns 35,086 shares of the industrial products company’s stock valued at $15,098,000 after purchasing an additional 8,774 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HUBB. Barclays raised their price objective on shares of Hubbell from $456.00 to $465.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Wall Street Zen lowered shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research report on Thursday, January 22nd. Evercore ISI initiated coverage on Hubbell in a research report on Monday, December 15th. They set an “outperform” rating and a $575.00 target price on the stock. Finally, Mizuho boosted their price target on Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average price target of $497.25.

Hubbell Stock Performance

NYSE:HUBB opened at $486.12 on Thursday. The firm has a market capitalization of $25.84 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $497.95. The firm has a 50-day moving average price of $454.17 and a 200 day moving average price of $441.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the company posted $4.49 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. Research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 2,470 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total value of $1,152,255.00. Following the sale, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alyssa R. Flynn sold 2,011 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the completion of the sale, the insider directly owned 3,243 shares in the company, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.76% of the stock is owned by insiders.

Hubbell Company Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.