Hubbell Incorporated (NYSE:HUBB) Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lessened its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 70.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Flagship Harbor Advisors LLC increased its holdings in Hubbell by 17.7% during the 4th quarter. Flagship Harbor Advisors LLC now owns 693 shares of the industrial products company's stock worth $290,000 after acquiring an additional 104 shares during the period. Blue Trust Inc. lifted its position in Hubbell by 37.8% during the 4th quarter. Blue Trust Inc. now owns 714 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 196 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Hubbell during the 4th quarter valued at about $2,878,000. KBC Group NV lifted its position in Hubbell by 4.0% during the 4th quarter. KBC Group NV now owns 10,716 shares of the industrial products company's stock valued at $4,489,000 after acquiring an additional 412 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Hubbell by 43.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,736 shares of the industrial products company's stock valued at $2,403,000 after acquiring an additional 1,741 shares during the period. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Down 1.7%

Shares of HUBB traded down $6.81 during trading on Friday, reaching $390.13. 1,127,934 shares of the company traded hands, compared to its average volume of 541,699. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The stock has a market cap of $20.82 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The stock has a 50-day simple moving average of $357.11 and a 200-day simple moving average of $392.65. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

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

Hubbell Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.35%. Hubbell's payout ratio is currently 35.72%.

Hubbell announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on HUBB shares. JPMorgan Chase & Co. increased their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Barclays dropped their target price 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, Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $457.50.

Insiders Place Their Bets

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the transaction, the chief executive officer now directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the sale, the director now directly owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.76% of the company's stock.

About Hubbell

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.