California Public Employees Retirement System Sells 4,475 Shares of Hubbell Incorporated (NYSE:HUBB)

California Public Employees Retirement System decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 101,719 shares of the industrial products company’s stock after selling 4,475 shares during the quarter. California Public Employees Retirement System’s holdings in Hubbell were worth $33,458,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Exchange Traded Concepts LLC grew its stake in Hubbell by 273.6% in the third quarter. Exchange Traded Concepts LLC now owns 2,197 shares of the industrial products company’s stock worth $689,000 after purchasing an additional 1,609 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Hubbell by 3.3% in the third quarter. Asset Management One Co. Ltd. now owns 30,037 shares of the industrial products company’s stock worth $9,414,000 after purchasing an additional 954 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Hubbell by 2.1% in the third quarter. Handelsbanken Fonder AB now owns 9,623 shares of the industrial products company’s stock worth $3,016,000 after purchasing an additional 200 shares in the last quarter. Lindenwold Advisors INC grew its stake in Hubbell by 1.6% in the third quarter. Lindenwold Advisors INC now owns 2,584 shares of the industrial products company’s stock worth $810,000 after purchasing an additional 41 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Hubbell by 6.9% in the third quarter. Commonwealth Equity Services LLC now owns 11,056 shares of the industrial products company’s stock worth $3,465,000 after purchasing an additional 713 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. Wells Fargo & Company increased their target price on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Mizuho increased their target price on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Barclays increased their target price on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Hubbell has an average rating of “Moderate Buy” and an average target price of $383.57.

Insiders Place Their Bets

In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the sale, the chief executive officer now owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gerben Bakker sold 13,355 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the sale, the chief executive officer now owns 51,783 shares in the company, valued at $18,286,130.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is owned by company insiders.

Hubbell Stock Performance

Shares of HUBB opened at $407.53 on Friday. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The stock has a fifty day moving average price of $395.96 and a 200-day moving average price of $342.63. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a market cap of $21.86 billion, a PE ratio of 29.01, a P/E/G ratio of 2.45 and a beta of 0.94.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business posted $2.60 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts predict that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell 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.