Allspring Global Investments Holdings LLC Acquires 951 Shares of Hubbell Incorporated (NYSE:HUBB)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBBGet Rating) by 22.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,109 shares of the industrial products company’s stock after purchasing an additional 951 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hubbell were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Ballentine Partners LLC acquired a new stake in Hubbell during the 3rd quarter worth approximately $259,000. Wipfli Financial Advisors LLC acquired a new stake in Hubbell during the 3rd quarter worth approximately $96,000. Versor Investments LP raised its holdings in Hubbell by 32.3% in the 3rd quarter. Versor Investments LP now owns 4,100 shares of the industrial products company’s stock valued at $914,000 after acquiring an additional 1,000 shares in the last quarter. Otter Creek Advisors LLC acquired a new position in Hubbell in the 3rd quarter valued at $4,184,000. Finally, Granite Investment Partners LLC raised its holdings in Hubbell by 22.3% in the 3rd quarter. Granite Investment Partners LLC now owns 13,765 shares of the industrial products company’s stock valued at $3,070,000 after acquiring an additional 2,506 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO William R. Sperry sold 18,878 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $239.69, for a total value of $4,524,867.82. Following the transaction, the chief financial officer now directly owns 46,292 shares of the company’s stock, valued at approximately $11,095,729.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by company insiders.

Hubbell Trading Up 0.5 %

NYSE HUBB opened at $224.73 on Friday. The business’s 50-day moving average price is $241.81 and its two-hundred day moving average price is $226.24. Hubbell Incorporated has a 12 month low of $170.21 and a 12 month high of $263.30. The firm has a market capitalization of $12.07 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. The company has a current ratio of 1.88, a quick ratio of 1.18 and a debt-to-equity ratio of 0.62.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com cut Hubbell from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 6th. Wells Fargo & Company decreased their price target on Hubbell from $222.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday. Wolfe Research lowered Hubbell from a “peer perform” rating to an “underperform” rating and set a $235.00 price target on the stock. in a research note on Thursday, December 1st. UBS Group lowered Hubbell from a “neutral” rating to a “sell” rating and decreased their price target for the company from $254.00 to $225.00 in a research note on Wednesday, January 4th. Finally, JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, October 19th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $226.50.

About Hubbell

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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.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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