Wesbanco Bank Inc. Takes Position in Hubbell Incorporated (NYSE:HUBB)

Wesbanco Bank Inc. purchased a new stake in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 919 shares of the industrial products company’s stock, valued at approximately $385,000.

A number of other hedge funds also recently made changes to their positions in the stock. Salem Investment Counselors Inc. boosted its position in Hubbell by 26.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after buying an additional 1,886 shares during the period. LGT Capital Partners LTD. acquired a new stake in Hubbell during the 3rd quarter worth approximately $39,687,000. Principal Financial Group Inc. boosted its position in Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after buying an additional 15,215 shares during the period. Impax Asset Management Group plc boosted its position in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after buying an additional 279,654 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Hubbell during the 3rd quarter worth approximately $757,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Performance

NYSE:HUBB opened at $455.56 on Friday. The company has a fifty day moving average of $442.63 and a 200-day moving average of $419.77. The firm has a market capitalization of $24.45 billion, a P/E ratio of 32.82, a P/E/G ratio of 1.57 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a twelve month low of $326.13 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.95 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.48 EPS for the current year.

Analysts Set New Price Targets

HUBB has been the subject of several analyst reports. Mizuho raised their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays raised their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $471.50.

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.