Y Intercept Hong Kong Ltd Increases Stock Position in Hubbell Inc $HUBB

Y Intercept Hong Kong Ltd boosted its holdings in Hubbell Inc (NYSE:HUBB) by 522.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,745 shares of the industrial products company’s stock after purchasing an additional 3,983 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Hubbell were worth $2,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HUBB. Boston Partners purchased a new stake in Hubbell during the 2nd quarter valued at approximately $230,691,000. Mirova US LLC purchased a new position in Hubbell during the 2nd quarter worth $139,386,000. Troy Asset Management Ltd purchased a new stake in shares of Hubbell in the second quarter valued at about $132,540,000. Bain Capital Public Equity Management II LLC acquired a new position in shares of Hubbell during the second quarter worth about $132,286,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Hubbell by 15.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after purchasing an additional 226,856 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hubbell

In other Hubbell news, Director John F. Malloy acquired 435 shares of the stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $429.24 per share, with a total value of $186,719.40. Following the completion of the transaction, the director directly owned 19,085 shares in the company, valued at approximately $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $470.32, for a total value of $945,813.52. Following the transaction, the insider owned 3,243 shares in the company, valued at $1,525,247.76. This trade represents a 38.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.76% of the company’s stock.

Hubbell Stock Performance

NYSE:HUBB opened at $486.12 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85. The firm has a market cap of $25.84 billion, a PE ratio of 30.16, a P/E/G ratio of 2.45 and a beta of 1.02. The firm has a 50 day simple moving average of $454.17 and a 200-day simple moving average of $441.35. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $497.95.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping the consensus estimate of $4.98 by $0.19. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. Hubbell’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.49 EPS. On average, equities analysts expect that Hubbell Inc will post 17.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HUBB shares. Morgan Stanley set a $515.00 target price on Hubbell in a research note on Wednesday, January 7th. UBS Group restated a “neutral” rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, December 12th. Wells Fargo & Company increased their price target on shares of Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Mizuho boosted their price objective on shares of Hubbell from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

Hubbell Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.