Hubbell Incorporated (NYSE:HUBB) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 75.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,857 shares of the industrial products company’s stock after selling 8,806 shares during the period. SG Americas Securities LLC’s holdings in Hubbell were worth $637,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in HUBB. First Manhattan Co. purchased a new stake in shares of Hubbell in the 1st quarter worth about $28,000. CWM LLC increased its stake in shares of Hubbell by 67.1% during the 3rd quarter. CWM LLC now owns 264 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 106 shares during the last quarter. Beacon Capital Management LLC increased its stake in shares of Hubbell by 10,466.7% during the 3rd quarter. Beacon Capital Management LLC now owns 317 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 314 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Hubbell by 30.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 381 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 89 shares during the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new position in shares of Hubbell during the 3rd quarter valued at about $96,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO William R. Sperry sold 18,878 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 46,292 shares of the company’s stock, valued at $11,095,729.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on HUBB. 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 report on Wednesday, October 26th. Morgan Stanley increased their target price on shares of Hubbell from $219.00 to $226.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 26th. UBS Group downgraded shares of Hubbell from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $254.00 to $225.00 in a research report on Wednesday, January 4th. Wells Fargo & Company decreased their price target on Hubbell from $222.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Wolfe Research cut Hubbell from a “peer perform” rating to an “underperform” rating and set a $235.00 price target for the company. in a report on Thursday, December 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has an average rating of “Hold” and an average price target of $226.50.

Hubbell Stock Performance

Shares of HUBB opened at $224.73 on Friday. The business’s fifty day moving average price is $241.81 and its 200 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 stock 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 debt-to-equity ratio of 0.62, a current ratio of 1.88 and a quick ratio of 1.18.

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

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.