Koch Industries Inc. bought a new position in shares of Hubbell Inc (NYSE:HUBB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 367,057 shares of the industrial products company’s stock, valued at approximately $364,000. Koch Industries Inc. owned 0.67% of Hubbell as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Meeder Asset Management Inc. increased its holdings in shares of Hubbell by 2,397.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 935 shares during the period. Acrospire Investment Management LLC increased its holdings in shares of Hubbell by 103.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 500 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Hubbell in the 2nd quarter worth about $182,000. Global X Management Co. LLC increased its holdings in shares of Hubbell by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 1,210 shares during the period. Finally, Oxford Asset Management acquired a new stake in shares of Hubbell in the 1st quarter worth about $215,000. 85.10% of the stock is currently owned by institutional investors.

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A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $132.00 price objective (up previously from $130.00) on shares of Hubbell in a report on Monday, October 2nd. BidaskClub raised shares of Hubbell from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Wolfe Research assumed coverage on shares of Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, JMP Securities began coverage on shares of Hubbell in a report on Monday, June 19th. They issued a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $124.00.

Hubbell Inc (NYSE HUBB) traded up 0.13% during trading on Tuesday, hitting $119.90. 51,071 shares of the stock traded hands. Hubbell Inc has a 52 week low of $101.61 and a 52 week high of $125.93. The stock has a market cap of $6.56 billion, a P/E ratio of 22.75 and a beta of 1.04. The firm’s 50-day moving average is $114.31 and its 200 day moving average is $115.40.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.11. The firm had revenue of $948.30 million during the quarter, compared to analysts’ expectations of $937.35 million. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 EPS. Equities research analysts forecast that Hubbell Inc will post $5.50 earnings per share for the current fiscal year.

About Hubbell

Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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