Jefferies Financial Group Inc. Has $2.27 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Jefferies Financial Group Inc. reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 70.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,428 shares of the industrial products company’s stock after selling 13,126 shares during the period. Jefferies Financial Group Inc.’s holdings in Hubbell were worth $2,274,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Hudson Bay Capital Management LP raised its holdings in Hubbell by 80.0% during the 4th quarter. Hudson Bay Capital Management LP now owns 27,003 shares of the industrial products company’s stock worth $11,311,000 after buying an additional 12,003 shares during the period. Gotham Asset Management LLC raised its holdings in shares of Hubbell by 5.1% in the fourth quarter. Gotham Asset Management LLC now owns 34,373 shares of the industrial products company’s stock valued at $14,399,000 after purchasing an additional 1,670 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Hubbell in the fourth quarter valued at approximately $545,000. Ethic Inc. raised its holdings in shares of Hubbell by 31.2% in the fourth quarter. Ethic Inc. now owns 11,793 shares of the industrial products company’s stock valued at $4,940,000 after purchasing an additional 2,805 shares during the last quarter. Finally, Fiduciary Trust Co acquired a new stake in shares of Hubbell in the fourth quarter valued at approximately $246,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Hubbell Price Performance

NYSE:HUBB opened at $387.88 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $343.61 and a 200 day simple moving average of $398.18. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The stock has a market capitalization of $20.70 billion, a PE ratio of 27.01, a P/E/G ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm earned $3.60 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.36%. Hubbell’s dividend payout ratio (DPR) is 35.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HUBB. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Barclays lowered their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $449.38.

Hubbell Company 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.