Hubbell Inc $HUBB Stock Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lifted its stake in shares of Hubbell Inc (NYSE:HUBB) by 355.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,740 shares of the industrial products company’s stock after buying an additional 10,721 shares during the period. Jefferies Financial Group Inc.’s holdings in Hubbell were worth $6,232,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. IFP Advisors Inc lifted its stake in shares of Hubbell by 2.1% in the 2nd quarter. IFP Advisors Inc now owns 1,181 shares of the industrial products company’s stock valued at $618,000 after acquiring an additional 24 shares during the last quarter. Farther Finance Advisors LLC grew its position in Hubbell by 2.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,101 shares of the industrial products company’s stock worth $500,000 after acquiring an additional 26 shares during the last quarter. Signaturefd LLC grew its position in Hubbell by 3.1% during the 3rd quarter. Signaturefd LLC now owns 905 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 27 shares during the last quarter. Meeder Advisory Services Inc. grew its position in Hubbell by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company’s stock worth $833,000 after acquiring an additional 28 shares during the last quarter. Finally, Tectonic Advisors LLC increased its holdings in Hubbell by 2.0% in the 3rd quarter. Tectonic Advisors LLC now owns 1,457 shares of the industrial products company’s stock worth $661,000 after purchasing an additional 28 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several research reports. Weiss Ratings downgraded Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 29th. Wells Fargo & Company reduced their price target on Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 28th. Evercore reaffirmed an “outperform” rating and issued a $630.00 price objective on shares of Hubbell in a research note on Friday, October 9th. Wall Street Zen downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $544.22.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $438.09 on Friday. The firm has a market cap of $23.14 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.12 and a beta of 0.84. The firm’s fifty day moving average is $454.86 and its 200-day moving average is $485.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.87 and a current ratio of 1.53. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $5.75 by $0.16. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Hubbell had a net margin of 13.78% and a return on equity of 27.33%. Hubbell’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.17 earnings per share. Sell-side analysts predict that Hubbell Inc will post 20.55 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a dividend of $1.52 per share. This represents a $6.08 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 30th. This is a boost from Hubbell’s previous quarterly dividend of $1.42. Hubbell’s dividend payout ratio (DPR) is presently 33.29%.

Hubbell Profile

Hubbell Incorporated is a manufacturer of electrical and utility products serving customers in the energy, industrial, commercial and residential markets. Its products help support the generation, transmission and distribution of electricity, as well as the installation and use of electrical systems. The company’s Utility Solutions business makes products such as connectors, insulators, arresters and other equipment used in electric utility networks. Its Electrical Solutions business supplies wiring devices, lighting and controls, enclosures and related products for buildings and industrial applications.