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

Sheaff Brock Investment Advisors LLC lessened its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,375 shares of the industrial products company’s stock after selling 244 shares during the quarter. Hubbell comprises 0.9% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Sheaff Brock Investment Advisors LLC’s holdings in Hubbell were worth $10,013,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after acquiring an additional 322,728 shares during the last quarter. Bank of New York Mellon Corp grew its position in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Hubbell by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after acquiring an additional 286,134 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its position in Hubbell by 60.9% during the second quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock valued at $74,821,000 after purchasing an additional 77,500 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 3.0 %

Shares of NYSE HUBB opened at $440.07 on Friday. Hubbell Incorporated has a twelve month low of $287.06 and a twelve month high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $432.35 and a two-hundred day simple moving average of $399.10. The firm has a market cap of $23.62 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released 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 company 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 firm earned $3.95 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.20%. Hubbell’s payout ratio is 35.16%.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HUBB shares. Mizuho boosted their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Barclays increased their price target on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell 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.