Exchange Traded Concepts LLC Acquires 1,957 Shares of Hubbell Incorporated (NYSE:HUBB)

Exchange Traded Concepts LLC increased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 28.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,848 shares of the industrial products company’s stock after acquiring an additional 1,957 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Hubbell were worth $3,706,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in shares of Hubbell during the 3rd quarter worth about $33,000. Versant Capital Management Inc increased its stake in Hubbell by 64.6% during 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 acquired a new position in Hubbell in the 3rd quarter valued at approximately $41,000. Quarry LP bought a new stake in shares of Hubbell in the 2nd quarter worth approximately $49,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell during the 3rd quarter worth approximately $58,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Morgan Stanley lifted their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their price target 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. Finally, Barclays lifted their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $471.50.

Hubbell Price Performance

Shares of Hubbell stock opened at $455.56 on Friday. Hubbell Incorporated has a 1-year low of $326.13 and a 1-year high of $481.35. The firm’s 50-day moving average price is $442.63 and its two-hundred day moving average price is $420.11. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 1.57 and a beta of 0.93.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $3.95 EPS. On average, equities analysts predict that Hubbell Incorporated will post 16.48 earnings per share for the current fiscal year.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, 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 document filed with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

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.