New York State Common Retirement Fund Has $31.12 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

New York State Common Retirement Fund lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,613 shares of the industrial products company’s stock after selling 7,616 shares during the period. New York State Common Retirement Fund’s holdings in Hubbell were worth $31,121,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in HUBB. Lindbrook Capital LLC grew its stake in Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares during the period. Baillie Gifford & Co. acquired a new stake in Hubbell during the fourth quarter worth approximately $33,000. Sentry Investment Management LLC acquired a new stake in Hubbell during the fourth quarter worth approximately $91,000. Grove Bank & Trust grew its stake in Hubbell by 14.3% during the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 50 shares during the period. Finally, Blue Trust Inc. grew its stake in Hubbell by 43.2% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. Wells Fargo & Company raised their price objective on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho raised their price objective on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Barclays raised their price objective on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $383.57.

Insider Activity

In related news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the sale, the chief financial officer now owns 37,848 shares in the company, valued at $13,359,965.52. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock worth $12,065,100 over the last 90 days. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Stock Up 0.9 %

HUBB stock opened at $402.27 on Friday. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $394.99 and its 200-day moving average is $341.94. The firm has a market capitalization of $21.57 billion, a PE ratio of 28.63, a P/E/G ratio of 2.43 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $2.60 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts expect that Hubbell Incorporated will post 16.43 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.