Bank of New York Mellon Corp Has $954.72 Million Holdings in Hubbell Inc $HUBB

Bank of New York Mellon Corp trimmed its position in Hubbell Inc (NYSE:HUBB) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,218,670 shares of the industrial products company’s stock after selling 270,191 shares during the quarter. Bank of New York Mellon Corp’s holdings in Hubbell were worth $954,716,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. raised its holdings in shares of Hubbell by 400.0% during the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 68 shares during the period. Mather Group LLC. acquired a new stake in Hubbell during the 3rd quarter valued at $37,000. Root Financial Partners LLC acquired a new stake in Hubbell during the 3rd quarter valued at $45,000. Johnson Financial Group Inc. lifted its holdings in shares of Hubbell by 185.4% in the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 89 shares in the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Hubbell in the second quarter worth $57,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HUBB has been the topic of several recent analyst reports. Barclays upped their price target on Hubbell from $456.00 to $465.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their target price on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Mizuho increased their price target on shares of Hubbell from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Morgan Stanley set a $515.00 price objective on shares of Hubbell in a research report on Wednesday, January 7th. Finally, UBS Group reiterated a “neutral” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, December 12th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the transaction, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. This represents a 34.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the transaction, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.76% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB opened at $484.26 on Wednesday. The firm has a market cap of $25.74 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 2.46 and a beta of 1.02. The company’s fifty day moving average is $452.84 and its 200-day moving average is $441.04. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $497.95.

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

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.