Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in Hubbell Incorporated (NYSE:HUBB)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,770 shares of the industrial products company’s stock after selling 141 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Hubbell were worth $735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nvwm LLC bought a new stake in shares of Hubbell in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC increased its position in shares of Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares during the last quarter. Baillie Gifford & Co. bought a new stake in shares of Hubbell in the 4th quarter worth about $33,000. Finally, Principal Securities Inc. bought a new stake in shares of Hubbell in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Hubbell stock traded up $11.54 during midday trading on Friday, reaching $367.09. 342,262 shares of the stock traded hands, compared to its average volume of 557,696. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average price of $379.20 and a two-hundred day moving average price of $378.97. The firm has a market cap of $19.71 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.36 and a beta of 0.90. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $429.61.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. Hubbell’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.61 EPS. On average, equities research analysts forecast that Hubbell Incorporated will post 16.33 earnings per share for the current year.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the sale, the insider now directly owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Mark Eugene Mikes sold 1,942 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now directly owns 3,436 shares in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alyssa R. Flynn sold 1,106 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the sale, the insider now owns 4,234 shares in the company, valued at $1,722,348.86. The disclosure for this sale can be found here. In the last three months, insiders sold 3,055 shares of company stock valued at $1,232,139. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company dropped their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $386.57.

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.