J. Safra Sarasin Holding AG Lowers Position in Hubbell Inc $HUBB

J. Safra Sarasin Holding AG decreased its holdings in shares of Hubbell Inc (NYSE:HUBB) by 84.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 741 shares of the industrial products company’s stock after selling 3,966 shares during the period. J. Safra Sarasin Holding AG’s holdings in Hubbell were worth $319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cullen Frost Bankers Inc. increased its holdings in shares of Hubbell by 400.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after buying an additional 68 shares during the last quarter. Mather Group LLC. purchased a new stake in Hubbell during the 3rd quarter valued at about $37,000. Root Financial Partners LLC purchased a new stake in shares of Hubbell during the third quarter valued at approximately $45,000. Johnson Financial Group Inc. boosted its position in Hubbell by 185.4% during the 2nd quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after buying an additional 89 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Hubbell in the second quarter worth about $57,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $497.70 on Friday. The firm has a market cap of $26.45 billion, a price-to-earnings ratio of 30.87, a P/E/G ratio of 2.46 and a beta of 1.02. The firm has a fifty day moving average price of $455.98 and a 200 day moving average price of $441.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $498.89.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $4.49 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Insider Activity at Hubbell

In other news, Director John F. Malloy acquired 435 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was acquired at an average price of $429.24 per share, with a total value of $186,719.40. Following the completion of the purchase, the director directly owned 19,085 shares in the company, valued at approximately $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the transaction, the insider owned 3,243 shares of the company’s stock, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their position. The SEC filing for this sale provides additional information. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HUBB. UBS Group reiterated a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, December 12th. JPMorgan Chase & Co. lifted their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Barclays upped their target price 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. Wells Fargo & Company upped their price target on Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Finally, Wall Street Zen downgraded shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

About Hubbell

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.