Stifel Financial Corp Sells 385 Shares of Hubbell Incorporated (NYSE:HUBB)

Stifel Financial Corp trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 30,892 shares of the industrial products company’s stock after selling 385 shares during the period. Stifel Financial Corp’s holdings in Hubbell were worth $13,233,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HUBB. Prospera Private Wealth LLC acquired a new position in Hubbell during the third quarter worth $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell in the 3rd quarter worth about $41,000. Quarry LP bought a new position in Hubbell in the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC acquired a new position in Hubbell during the 3rd quarter valued at about $58,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Hubbell during the 2nd quarter worth approximately $62,000. 88.16% of the stock is currently owned by institutional investors.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Morgan Stanley boosted their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Hubbell presently has a consensus rating of “Hold” and a consensus target price of $472.13.

Hubbell Stock Down 0.8 %

HUBB opened at $448.60 on Wednesday. Hubbell Incorporated has a twelve month low of $306.92 and a twelve month high of $481.35. The company’s 50-day moving average price is $450.21 and its two-hundred day moving average price is $407.19. The stock has a market cap of $24.08 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 1.72 and a beta of 0.91. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $3.95 earnings per share. Hubbell’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.18%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

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.