Hubbell Incorporated (NYSE:HUBB) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,618 shares of the industrial products company’s stock after selling 644 shares during the quarter. Modera Wealth Management LLC owned about 0.05% of Hubbell worth $11,830,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after buying an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc grew its position in Hubbell by 53.8% during the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after purchasing an additional 322,728 shares during the last quarter. Bank of New York Mellon Corp grew its position in Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after purchasing an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Hubbell by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares during the period. Finally, Ceredex Value Advisors LLC raised its holdings in shares of Hubbell by 60.9% in the second quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock valued at $74,821,000 after buying an additional 77,500 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HUBB. Morgan Stanley started coverage on Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target on the stock. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and increased their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company boosted their price target on shares of Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $428.13.

Hubbell Stock Performance

Shares of HUBB stock opened at $444.52 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The stock has a market cap of $23.86 billion, a PE ratio of 32.85, a P/E/G ratio of 1.66 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $461.77. The stock has a fifty day moving average price of $415.95 and a 200 day moving average price of $394.66.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the firm earned $4.07 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts forecast that Hubbell Incorporated will post 16.43 earnings per share 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.