Hubbell Inc. (HUBB) Shares Sold by FTB Advisors Inc.
FTB Advisors Inc. reduced its stake in Hubbell Inc. (NYSE:HUBB) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 1,573 shares of the company’s stock after selling 51 shares during the period. FTB Advisors Inc.’s holdings in Hubbell were worth $164,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. York Capital Management Global Advisors LLC purchased a new position in Hubbell during the first quarter worth approximately $33,495,000. Adage Capital Partners GP L.L.C. purchased a new position in Hubbell during the first quarter worth approximately $25,070,000. American Century Companies Inc. boosted its position in Hubbell by 9.3% in the second quarter. American Century Companies Inc. now owns 1,081,037 shares of the company’s stock worth $114,017,000 after buying an additional 92,077 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. boosted its position in Hubbell by 65.9% in the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 202,444 shares of the company’s stock worth $21,352,000 after buying an additional 80,414 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Hubbell by 242.2% in the first quarter. Prudential Financial Inc. now owns 112,885 shares of the company’s stock worth $11,958,000 after buying an additional 79,900 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.
Hubbell Inc. (NYSE:HUBB) traded up 0.61% on Tuesday, reaching $103.88. The company had a trading volume of 60,896 shares. Hubbell Inc. has a 52 week low of $83.16 and a 52 week high of $111.23. The stock’s 50-day moving average is $105.37 and its 200-day moving average is $105.59. The company has a market capitalization of $5.75 billion, a P/E ratio of 21.39 and a beta of 1.07.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. Hubbell had a return on equity of 17.48% and a net margin of 8.01%. The company had revenue of $909 million for the quarter, compared to analysts’ expectations of $874 million. The firm’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Hubbell Inc. will post $5.32 EPS for the current fiscal year.
A number of research analysts have recently commented on HUBB shares. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research note on Wednesday, July 13th. Morgan Stanley restated a “hold” rating and issued a $111.00 target price on shares of Hubbell in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. lowered their target price on Hubbell from $110.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Hubbell presently has an average rating of “Hold” and a consensus price target of $105.80.
In other news, VP Stephen M. Mais sold 2,804 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $106.63, for a total transaction of $298,990.52. Following the transaction, the vice president now owns 12,807 shares of the company’s stock, valued at $1,365,610.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard J. Swift sold 4,303 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $107.13, for a total value of $460,980.39. Following the transaction, the director now directly owns 5,181 shares in the company, valued at approximately $555,040.53. The disclosure for this sale can be found here. Insiders own 1.25% of the company’s stock.
Hubbell Company Profile
Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company operates through two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products.
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