Foster Victor Wealth Advisors LLC Cuts Position in Hubbell Incorporated (NYSE:HUBB)

Foster Victor Wealth Advisors LLC reduced its position in Hubbell Incorporated (NYSE:HUBB) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,590 shares of the industrial products company’s stock after selling 247 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Hubbell were worth $1,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HUBB. Groupama Asset Managment raised its stake in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares during the period. Prospera Private Wealth LLC acquired a new position in Hubbell during the 3rd quarter worth $33,000. Versant Capital Management Inc increased its position in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell in the 3rd quarter valued at about $41,000. Finally, Quarry LP bought a new position in shares of Hubbell during the second quarter worth about $49,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several research reports. Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Barclays upped their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company lowered their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Price Performance

NYSE HUBB opened at $412.85 on Wednesday. The company has a 50-day moving average price of $441.23 and a two-hundred day moving average price of $420.90. Hubbell Incorporated has a 52 week low of $326.13 and a 52 week high of $481.35. The stock has a market cap of $22.16 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 28.81% and a net margin of 13.33%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.95 EPS. Analysts forecast that Hubbell Incorporated will post 16.48 EPS for the current year.

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.