Sheaff Brock Investment Advisors LLC Decreases Position in Hubbell Incorporated (NYSE:HUBB)

Sheaff Brock Investment Advisors LLC trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,375 shares of the industrial products company’s stock after selling 244 shares during the period. Hubbell comprises 0.9% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 23rd largest holding. Sheaff Brock Investment Advisors LLC’s holdings in Hubbell were worth $10,013,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HUBB. IFG Advisory LLC acquired a new position in shares of Hubbell during the second quarter valued at about $475,000. Acadian Asset Management LLC raised its holdings in shares of Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after buying an additional 1,252 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Hubbell by 24.6% during the second quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after buying an additional 1,359 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Hubbell by 2.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after buying an additional 2,822 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new position in shares of Hubbell in the 1st quarter valued at $582,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Price Performance

NYSE:HUBB opened at $440.07 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company has a 50 day moving average price of $432.35 and a 200-day moving average price of $399.10. Hubbell Incorporated has a 1-year low of $287.06 and a 1-year high of $481.35. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90.

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

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $1.32 dividend. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. Hubbell’s payout ratio is 35.16%.

Analysts Set New Price Targets

HUBB has been the subject of a number of research reports. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Wells Fargo & Company lifted their target price on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley increased 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. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Mizuho upped their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.66% 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.