SeaBridge Investment Advisors LLC reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,489 shares of the industrial products company’s stock after selling 3,693 shares during the period. Hubbell makes up about 1.8% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 10th largest holding. SeaBridge Investment Advisors LLC’s holdings in Hubbell were worth $7,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of HUBB. American Century Companies Inc. boosted its holdings in shares of Hubbell by 46.5% in the second quarter. American Century Companies Inc. now owns 2,792,582 shares of the industrial products company’s stock worth $295,288,000 after acquiring an additional 885,909 shares during the period. FMR LLC raised its position in shares of Hubbell by 25.5% in the second quarter. FMR LLC now owns 1,662,452 shares of the industrial products company’s stock worth $175,788,000 after buying an additional 337,915 shares in the last quarter. BlackRock Inc. raised its position in shares of Hubbell by 7.1% in the second quarter. BlackRock Inc. now owns 4,951,945 shares of the industrial products company’s stock worth $523,619,000 after buying an additional 329,485 shares in the last quarter. Selz Capital LLC purchased a new stake in shares of Hubbell in the second quarter worth $26,224,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Hubbell in the second quarter worth $19,419,000. 87.72% of the stock is owned by hedge funds and other institutional investors.
Shares of HUBB stock traded down $2.29 on Friday, reaching $120.22. The company’s stock had a trading volume of 34,790 shares, compared to its average volume of 514,040. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.20 and a current ratio of 1.99. Hubbell Incorporated has a 12-month low of $100.55 and a 12-month high of $149.03. The company has a market capitalization of $6.79 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08.
HUBB has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Wednesday, June 27th. ValuEngine upgraded Hubbell from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Wolfe Research initiated coverage on Hubbell in a research report on Wednesday, June 27th. They issued a “market perform” rating on the stock. Wells Fargo & Co reiterated an “outperform” rating and issued a $140.00 price objective (up previously from $135.00) on shares of Hubbell in a research report on Wednesday, July 25th. Finally, Morgan Stanley increased their price objective on Hubbell from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 25th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $143.00.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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