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

Jefferies Financial Group Inc. lessened its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 70.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,428 shares of the industrial products company's stock after selling 13,126 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Hubbell were worth $2,274,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HUBB. Janney Montgomery Scott LLC grew its holdings in shares of Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock worth $12,032,000 after purchasing an additional 15,806 shares during the last quarter. Smith Group Asset Management LLC grew its holdings in shares of Hubbell by 1.6% during the fourth quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company's stock worth $28,083,000 after purchasing an additional 1,049 shares during the last quarter. First Pacific Financial grew its holdings in shares of Hubbell by 11,180.0% during the fourth quarter. First Pacific Financial now owns 1,692 shares of the industrial products company's stock worth $709,000 after purchasing an additional 1,677 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Hubbell by 25.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock worth $80,000 after purchasing an additional 38 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Hubbell by 28.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,848 shares of the industrial products company's stock worth $3,706,000 after purchasing an additional 1,957 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of the firm'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 completion of the sale, the chief executive officer now owns 82,101 shares in the company, valued at $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. The trade was a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hubbell Stock Performance

Shares of HUBB traded up $5.52 during mid-day trading on Friday, hitting $392.16. 659,423 shares of the company's stock were exchanged, compared to its average volume of 531,084. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The firm has a market capitalization of $20.93 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.34 and a beta of 0.97. The business's 50 day moving average is $347.05 and its two-hundred day moving average is $397.25. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

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

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

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $1.32 dividend. The ex-dividend date is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. Hubbell's payout ratio is currently 35.72%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HUBB. Barclays dropped their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. raised their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday. Finally, StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $457.50.

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.