Boston Trust Walden Corp Lowers Stock Position in Hubbell Incorporated (NYSE:HUBB)

Boston Trust Walden Corp decreased its holdings in Hubbell Incorporated (NYSE:HUBB) by 12.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 299,138 shares of the industrial products company’s stock after selling 42,440 shares during the quarter. Hubbell accounts for about 0.9% of Boston Trust Walden Corp’s holdings, making the stock its 22nd largest holding. Boston Trust Walden Corp owned 0.56% of Hubbell worth $128,136,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. OLD National Bancorp IN raised its stake in Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 22 shares during the last quarter. CWM LLC raised its position in shares of Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after buying an additional 28 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after buying an additional 30 shares during the last quarter. Detalus Advisors LLC lifted its stake in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after buying an additional 30 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 30 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Performance

NYSE HUBB traded down $5.66 during trading hours on Friday, hitting $444.52. The company had a trading volume of 376,674 shares, compared to its average volume of 335,802. The business has a 50 day moving average of $415.95 and a 200-day moving average of $394.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $461.77. The company has a market cap of $23.86 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90.

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

Insider Buying and Selling

In other news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, 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 the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Mizuho boosted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and increased their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Wells Fargo & Company increased their price objective on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Barclays lifted their price target on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and a consensus target price of $428.13.

About Hubbell

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.