Louisiana State Employees Retirement System raised its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 14,600 shares of the industrial products company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Hubbell were worth $1,723,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new position in shares of Hubbell in the 4th quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new position in shares of Hubbell in the 4th quarter worth approximately $35,000. Essex Investment Management Co. LLC acquired a new position in shares of Hubbell in the 4th quarter worth approximately $35,000. Enlightenment Research LLC acquired a new position in shares of Hubbell in the 4th quarter worth approximately $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Hubbell in the 4th quarter worth approximately $65,000. 86.56% of the stock is currently owned by hedge funds and other institutional investors.
Hubbell stock opened at $125.40 on Wednesday. The company has a market capitalization of $6.79 billion, a PE ratio of 17.04, a PEG ratio of 1.54 and a beta of 1.44. The company has a current ratio of 1.96, a quick ratio of 1.18 and a debt-to-equity ratio of 0.97. Hubbell Incorporated has a fifty-two week low of $91.88 and a fifty-two week high of $137.67.
Several equities analysts have recently issued reports on HUBB shares. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd. ValuEngine raised shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Oppenheimer reaffirmed a “market perform” rating on shares of Hubbell in a research note on Tuesday, January 8th. Morgan Stanley cut shares of Hubbell from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $131.00 to $109.00 in a research note on Tuesday, December 18th. Finally, JMP Securities set a $146.00 price objective on shares of Hubbell and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $133.29.
In other news, VP An-Ping Hsieh sold 6,315 shares of Hubbell stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $122.32, for a total value of $772,450.80. Following the transaction, the vice president now directly owns 24,376 shares of the company’s stock, valued at $2,981,672.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.
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Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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