Smith Group Asset Management LLC Has $28.08 Million Position in Hubbell Incorporated (NYSE:HUBB)

Smith Group Asset Management LLC grew its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,042 shares of the industrial products company’s stock after purchasing an additional 1,049 shares during the quarter. Hubbell makes up 2.1% of Smith Group Asset Management LLC’s holdings, making the stock its 19th biggest holding. Smith Group Asset Management LLC owned approximately 0.12% of Hubbell worth $28,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment raised 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 purchasing an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Hubbell during the third quarter worth about $33,000. Versant Capital Management Inc lifted its stake in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares during the period. Ashton Thomas Securities LLC bought a new stake in Hubbell in the third quarter valued at approximately $41,000. Finally, Quarry LP acquired a new stake in Hubbell during the 2nd quarter valued at approximately $49,000. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HUBB. Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and cut their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Mizuho lifted their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $471.50.

Hubbell Stock Performance

Shares of HUBB stock opened at $412.85 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a 50-day moving average of $441.23 and a 200-day moving average of $420.90. Hubbell Incorporated has a one year low of $326.13 and a one year high of $481.35. The company 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.

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