Candriam Luxembourg S.C.A. acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 39,192 shares of the industrial products company’s stock, valued at approximately $3,893,000. Candriam Luxembourg S.C.A. owned 0.07% of Hubbell at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in HUBB. Prudential Financial Inc. boosted its holdings in Hubbell by 106.9% in the 3rd quarter. Prudential Financial Inc. now owns 138,969 shares of the industrial products company’s stock valued at $18,562,000 after purchasing an additional 71,790 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Hubbell by 16.2% during the 3rd quarter. MML Investors Services LLC now owns 3,515 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 490 shares during the period. Commonwealth Bank of Australia acquired a new stake in shares of Hubbell during the 3rd quarter valued at approximately $681,000. Piedmont Investment Advisors Inc. lifted its position in shares of Hubbell by 38,242.9% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 2,684 shares of the industrial products company’s stock valued at $359,000 after acquiring an additional 2,677 shares during the period. Finally, Keybank National Association OH lifted its position in shares of Hubbell by 66.3% during the 3rd quarter. Keybank National Association OH now owns 5,269 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 2,101 shares during the period. 86.56% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Thursday. JMP Securities set a $146.00 price objective on Hubbell and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded Hubbell from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Morgan Stanley downgraded Hubbell from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $131.00 to $109.00 in a research report on Tuesday, December 18th. Finally, CIBC reiterated a “market perform” rating on shares of Hubbell in a report on Tuesday, January 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $133.29.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Hubbell had a net margin of 8.04% and a return on equity of 23.08%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business posted $1.54 EPS. The firm’s revenue was up 24.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Hubbell Incorporated will post 8.09 EPS for the current year.
In other Hubbell news, VP An-Ping Hsieh sold 6,315 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $122.32, for a total value of $772,450.80. Following the transaction, the vice president now owns 24,376 shares in the company, valued at approximately $2,981,672.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.20% of the company’s stock.
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Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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