Hubbell Incorporated (NYSE:HUBB) Shares Sold by Knowledge Leaders Capital LLC

Knowledge Leaders Capital LLC lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 3.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,525 shares of the industrial products company’s stock after selling 112 shares during the quarter. Hubbell accounts for approximately 1.8% of Knowledge Leaders Capital LLC’s portfolio, making the stock its 26th biggest position. Knowledge Leaders Capital LLC’s holdings in Hubbell were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in Hubbell by 32,734.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Hubbell by 46.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after purchasing an additional 323,116 shares during the period. abrdn plc boosted its holdings in Hubbell by 2,167.6% in the fourth quarter. abrdn plc now owns 206,643 shares of the industrial products company’s stock worth $67,971,000 after purchasing an additional 197,530 shares during the period. Fiera Capital Corp acquired a new position in Hubbell in the third quarter worth $39,502,000. Finally, Invesco Ltd. lifted its stake in Hubbell by 10.7% in the third quarter. Invesco Ltd. now owns 1,195,043 shares of the industrial products company’s stock valued at $374,538,000 after buying an additional 115,886 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

Hubbell Price Performance

Hubbell stock traded up $5.26 during midday trading on Friday, hitting $407.53. The company’s stock had a trading volume of 359,603 shares, compared to its average volume of 352,773. 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 price is $395.96 and its 200-day moving average price is $342.63. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The company has a market capitalization of $21.86 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 2.45 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.11. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.60 EPS. Analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Company 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.