Stifel Financial Corp Has $13.23 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Stifel Financial Corp reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,892 shares of the industrial products company’s stock after selling 385 shares during the period. Stifel Financial Corp owned approximately 0.06% of Hubbell worth $13,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. OLD National Bancorp IN lifted its position in shares of Hubbell by 3.8% during the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after buying an additional 22 shares during the last quarter. CWM LLC raised its stake in Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares in the last quarter. Avestar Capital LLC lifted its holdings in shares of Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 28 shares during the last quarter. Detalus Advisors LLC boosted its stake in shares of Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 30 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 30 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HUBB has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays increased their target price on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley raised their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $472.13.

Hubbell Stock Performance

NYSE:HUBB opened at $448.60 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a fifty-two week low of $306.92 and a fifty-two week high of $481.35. The company has a 50 day simple moving average of $450.21 and a two-hundred day simple moving average of $407.19. The company has a market capitalization of $24.08 billion, a PE ratio of 32.32, a P/E/G ratio of 1.72 and a beta of 0.91.

Hubbell (NYSE:HUBB) last announced its earnings results 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. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.95 earnings per share. Research analysts anticipate 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. Investors of record on Friday, November 29th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.18%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value 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. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

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.