Hubbell Incorporated (NYSE:HUBB) is Franklin Parlapiano Turner & Welch LLC’s 9th Largest Position

Franklin Parlapiano Turner & Welch LLC lowered its position in Hubbell Incorporated (NYSE:HUBBFree Report) by 4.4% in the fourth quarter, HoldingsChannel reports. The firm owned 23,708 shares of the industrial products company’s stock after selling 1,083 shares during the period. Hubbell makes up about 2.7% of Franklin Parlapiano Turner & Welch LLC’s portfolio, making the stock its 9th biggest holding. Franklin Parlapiano Turner & Welch LLC’s holdings in Hubbell were worth $9,931,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HUBB. Salem Investment Counselors Inc. boosted its stake in Hubbell by 26.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after buying an additional 1,886 shares during the period. LGT Capital Partners LTD. acquired a new stake in shares of Hubbell during the third quarter worth about $39,687,000. Principal Financial Group Inc. lifted its position in shares of Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after purchasing an additional 15,215 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after purchasing an additional 15,806 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. 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 report on Thursday, December 5th. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $471.50.

Check Out Our Latest Stock Analysis on HUBB

Hubbell Stock Performance

Shares of HUBB opened at $417.96 on Thursday. 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 firm has a market cap of $22.43 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. The company’s 50 day simple moving average is $440.67 and its 200-day simple moving average is $420.88. Hubbell Incorporated has a 12-month low of $329.24 and a 12-month high of $481.35.

Hubbell (NYSE:HUBBGet Free Report) last posted its quarterly earnings data 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. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm posted $3.95 EPS. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Hubbell Incorporated will post 16.48 EPS for the current year.

Hubbell Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated (NYSE:HUBBFree Report).

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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