Raymond James Financial Services Advisors Inc. Sells 120 Shares of Hubbell Incorporated (NYSE:HUBB)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of Hubbell Incorporated (NYSE:HUBBGet Rating) by 1.8% during the third quarter, Holdings Channel reports. The fund owned 6,367 shares of the industrial products company’s stock after selling 120 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Hubbell were worth $1,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HUBB. First Manhattan Co. bought a new stake in Hubbell in the first quarter valued at $28,000. Beacon Capital Management LLC grew its stake in shares of Hubbell by 10,466.7% in the 3rd quarter. Beacon Capital Management LLC now owns 317 shares of the industrial products company’s stock valued at $57,000 after buying an additional 314 shares during the period. Quadrant Capital Group LLC increased its position in Hubbell by 30.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 381 shares of the industrial products company’s stock valued at $68,000 after buying an additional 89 shares in the last quarter. Covestor Ltd raised its stake in Hubbell by 137.3% during the 1st quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock worth $96,000 after buying an additional 302 shares during the period. Finally, CX Institutional bought a new position in Hubbell in the second quarter worth approximately $195,000. 89.71% of the stock is owned by institutional investors.

Insider Transactions at Hubbell

In other news, CFO William R. Sperry sold 18,878 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $239.69, for a total transaction of $4,524,867.82. Following the sale, the chief financial officer now owns 46,292 shares in the company, valued at $11,095,729.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.82% of the company’s stock.

Hubbell Trading Down 1.9 %

NYSE HUBB opened at $223.55 on Friday. The firm has a market cap of $12.01 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. Hubbell Incorporated has a 1-year low of $170.21 and a 1-year high of $263.30. The company has a current ratio of 1.88, a quick ratio of 1.18 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $242.33 and a 200-day moving average of $225.63.

Hubbell (NYSE:HUBBGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The industrial products company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.35. Hubbell had a return on equity of 24.17% and a net margin of 11.57%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.25 billion. As a group, sell-side analysts forecast that Hubbell Incorporated will post 10.41 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. UBS Group cut shares of Hubbell from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $254.00 to $225.00 in a report on Wednesday, January 4th. Morgan Stanley boosted their price objective on Hubbell from $219.00 to $226.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 26th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Wednesday, October 19th. They noted that the move was a valuation call. Mizuho upped their price target on Hubbell from $220.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, October 26th. Finally, Wells Fargo & Company cut their target price on Hubbell from $222.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Hubbell has an average rating of “Hold” and a consensus price target of $226.50.

Hubbell Profile

(Get Rating)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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