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

Raymond James Financial Services Advisors Inc. lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,367 shares of the industrial products company’s stock after selling 120 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Hubbell were worth $1,420,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. First Manhattan Co. acquired a new stake in shares of Hubbell during the first quarter worth $28,000. Beacon Capital Management LLC raised its position 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 worth $57,000 after acquiring an additional 314 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of 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 purchasing an additional 89 shares during the period. Covestor Ltd boosted its position in shares of Hubbell by 137.3% during the 1st quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 302 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV acquired a new stake in Hubbell during the third quarter worth approximately $201,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insiders Place Their Bets

In related news, CFO William R. Sperry sold 18,878 shares of Hubbell stock in a transaction on Friday, October 28th. The stock was 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 directly owns 46,292 shares in the company, valued at $11,095,729.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of research analyst reports. Wolfe Research cut Hubbell from a “peer perform” rating to an “underperform” rating and set a $235.00 price target on the stock. in a report on Thursday, December 1st. Mizuho increased their target price on shares of Hubbell from $220.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, October 26th. Wells Fargo & Company decreased their price target on shares of Hubbell from $222.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Wednesday, October 19th. They noted that the move was a valuation call. Finally, Morgan Stanley raised their price objective on Hubbell from $219.00 to $226.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 26th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $226.50.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $223.55 on Friday. 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 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. The stock’s fifty day simple moving average is $242.33 and its two-hundred day simple moving average is $225.63. Hubbell Incorporated has a 1-year low of $170.21 and a 1-year high of $263.30.

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

Hubbell Company Profile

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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.