Forsta AP Fonden Sells 700 Shares of Hubbell Incorporated (NYSE:HUBB)

Forsta AP Fonden decreased its holdings in Hubbell Incorporated (NYSE:HUBB) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,400 shares of the industrial products company’s stock after selling 700 shares during the quarter. Forsta AP Fonden’s holdings in Hubbell were worth $11,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Groupama Asset Managment increased its position in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Hubbell during the third quarter valued at approximately $33,000. Versant Capital Management Inc increased its holdings in shares of 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 purchasing an additional 31 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Hubbell in the 3rd quarter worth approximately $41,000. Finally, Quarry LP acquired a new position in Hubbell during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction 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 in the company, 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 legal filing with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays raised their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Mizuho boosted their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Stock Up 2.2 %

NYSE:HUBB opened at $426.92 on Friday. The stock has a 50-day simple moving average of $440.67 and a 200 day simple moving average of $420.88. Hubbell Incorporated has a 52-week low of $334.17 and a 52-week high of $481.35. The company has a market cap of $22.91 billion, a PE ratio of 30.76, a PEG ratio of 1.57 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

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

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.