Lebenthal Global Advisors LLC Purchases New Position in Hubbell Incorporated (NYSE:HUBB)

Lebenthal Global Advisors LLC acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 783 shares of the industrial products company’s stock, valued at approximately $328,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Groupama Asset Managment lifted its position in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Hubbell in the third quarter valued at approximately $33,000. Versant Capital Management Inc raised its stake in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell during the third quarter worth $41,000. Finally, Quarry LP purchased a new position in shares of Hubbell in the second quarter valued at $49,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Morgan Stanley raised their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $471.50.

Hubbell Stock Performance

HUBB stock opened at $412.85 on Wednesday. The stock’s 50 day simple moving average is $441.23 and its 200 day simple moving average is $420.90. Hubbell Incorporated has a 12-month low of $326.13 and a 12-month high of $481.35. The firm has a market cap of $22.16 billion, a P/E ratio of 29.74, a P/E/G ratio of 1.57 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $3.95 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts predict that Hubbell Incorporated will post 16.48 EPS for the current 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.