SeaBridge Investment Advisors LLC Sells 832 Shares of Hubbell Incorporated (NYSE:HUBB)

SeaBridge Investment Advisors LLC lessened its position in Hubbell Incorporated (NYSE:HUBB) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,432 shares of the industrial products company’s stock after selling 832 shares during the quarter. Hubbell comprises about 1.6% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 13th biggest position. SeaBridge Investment Advisors LLC owned about 0.07% of Hubbell worth $4,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. increased its holdings in shares of Hubbell by 1,950.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 205 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 195 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Hubbell during the 2nd quarter worth about $27,000. Advisory Services Network LLC increased its holdings in shares of Hubbell by 57.1% during the 2nd quarter. Advisory Services Network LLC now owns 322 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 117 shares during the period. CENTRAL TRUST Co increased its holdings in shares of Hubbell by 125.0% during the 2nd quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 200 shares during the period. Finally, River & Mercantile Asset Management LLP bought a new position in shares of Hubbell during the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 85.95% of the company’s stock.

In other news, insider Kevin Arthur Poyck sold 1,828 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $127.66, for a total transaction of $233,362.48. Following the transaction, the insider now directly owns 19,822 shares in the company, valued at $2,530,476.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neal J. Keating bought 500 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $125.77 per share, for a total transaction of $62,885.00. Following the completion of the transaction, the director now directly owns 7,578 shares of the company’s stock, valued at approximately $953,085.06. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.

Several analysts have recently weighed in on HUBB shares. G.Research reiterated a “buy” rating on shares of Hubbell in a research report on Wednesday, August 21st. Morgan Stanley set a $138.00 target price on shares of Hubbell and gave the company a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a research report on Friday. Stephens started coverage on shares of Hubbell in a research report on Monday, July 8th. They set an “overweight” rating and a $140.00 target price on the stock. Finally, Gabelli started coverage on shares of Hubbell in a research report on Wednesday, August 21st. They set a “buy” rating and a $160.00 target price on the stock. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $144.43.

NYSE:HUBB traded up $0.96 on Tuesday, reaching $136.86. The stock had a trading volume of 2,344 shares, compared to its average volume of 285,001. The company has a market capitalization of $7.35 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.81 and a beta of 1.48. Hubbell Incorporated has a 1-year low of $91.88 and a 1-year high of $137.97. The company has a quick ratio of 1.22, a current ratio of 1.98 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average price of $132.42 and a 200-day moving average price of $126.84.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.31 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.16. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Hubbell had a net margin of 8.03% and a return on equity of 23.63%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 earnings per share. Sell-side analysts predict that Hubbell Incorporated will post 8.07 earnings per share for the current fiscal year.

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.

Further Reading: Basic Economics

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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