California Public Employees Retirement System Sells 4,475 Shares of Hubbell Incorporated (NYSE:HUBB)

California Public Employees Retirement System decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,719 shares of the industrial products company’s stock after selling 4,475 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Hubbell worth $33,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC increased its holdings in shares of Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 51 shares in the last quarter. Baillie Gifford & Co. bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $33,000. Sentry Investment Management LLC bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $91,000. Grove Bank & Trust increased its holdings in shares of Hubbell by 14.3% during the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 50 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Hubbell by 43.2% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 128 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HUBB shares. Mizuho boosted their price objective on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Barclays lifted their target price on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company lifted their target price on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and an average target price of $383.57.

Hubbell Stock Up 1.3 %

HUBB stock opened at $407.53 on Friday. The stock’s fifty day simple moving average is $395.96 and its two-hundred day simple moving average is $342.63. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The stock has a market cap of $21.86 billion, a P/E ratio of 29.01, a P/E/G ratio of 2.45 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $2.60 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. Analysts expect that Hubbell Incorporated will post 16.43 EPS for the current year.

Insider Buying and Selling at Hubbell

In other Hubbell news, CFO William R. Sperry sold 14,925 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the sale, the chief financial officer now directly owns 37,848 shares in the company, valued at $13,359,965.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the sale, the chief executive officer now directly owns 51,783 shares in the company, valued at $18,286,130.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William R. Sperry sold 14,925 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $352.99, for a total value of $5,268,375.75. Following the completion of the sale, the chief financial officer now owns 37,848 shares in the company, valued at $13,359,965.52. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $12,065,100 over the last ninety days. 0.66% of the stock is currently owned by company insiders.

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.