Y Intercept Hong Kong Ltd Increases Stock Position in Hubbell Inc $HUBB

Y Intercept Hong Kong Ltd lifted its position in shares of Hubbell Inc (NYSE:HUBB) by 522.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,745 shares of the industrial products company’s stock after purchasing an additional 3,983 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Hubbell were worth $2,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. increased its stake in Hubbell by 400.0% during the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 68 shares during the last quarter. Mather Group LLC. acquired a new stake in Hubbell during the 3rd quarter worth approximately $37,000. Root Financial Partners LLC purchased a new position in Hubbell in the third quarter valued at approximately $45,000. Johnson Financial Group Inc. lifted its position in Hubbell by 185.4% during the second 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 in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in Hubbell during the second quarter worth approximately $57,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Up 0.4%

NYSE HUBB opened at $486.12 on Thursday. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $497.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85. The company has a market capitalization of $25.84 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02. The company’s fifty day moving average price is $454.17 and its two-hundred day moving average price is $441.35.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.19. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.49 EPS. As a group, research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the transaction, the insider owned 3,243 shares of the company’s stock, valued at $1,525,247.76. This trade represents a 38.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John F. Malloy bought 435 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was purchased at an average price of $429.24 per share, with a total value of $186,719.40. Following the transaction, the director owned 19,085 shares in the company, valued at approximately $8,192,045.40. This represents a 2.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Mizuho lifted their target price on shares of Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Evercore ISI initiated coverage on Hubbell in a research note on Monday, December 15th. They set an “outperform” rating and a $575.00 price objective on the stock. Wall Street Zen downgraded Hubbell from a “strong-buy” rating to a “buy” rating in a report on Monday, December 29th. Morgan Stanley set a $515.00 price target on Hubbell in a research report on Wednesday, January 7th. Finally, Barclays increased their price objective on shares of Hubbell from $456.00 to $465.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

Hubbell Company Profile

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.