Jump Financial LLC Has $5.70 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Jump Financial LLC lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 1,360.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,607 shares of the industrial products company's stock after acquiring an additional 12,675 shares during the quarter. Jump Financial LLC's holdings in Hubbell were worth $5,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bridgewater Associates LP acquired a new position in shares of Hubbell in the 4th quarter valued at approximately $277,000. Guggenheim Capital LLC boosted its stake in Hubbell by 13.1% during the 4th quarter. Guggenheim Capital LLC now owns 9,332 shares of the industrial products company's stock valued at $3,909,000 after acquiring an additional 1,080 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Hubbell in the 4th quarter valued at about $1,203,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Hubbell during the fourth quarter worth about $3,085,000. Finally, SageView Advisory Group LLC acquired a new position in Hubbell in the fourth quarter worth about $341,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Up 2.3 %

Hubbell stock traded up $7.63 during mid-day trading on Tuesday, hitting $336.85. 55,537 shares of the company's stock were exchanged, compared to its average volume of 516,664. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The stock has a 50 day moving average of $349.85 and a two-hundred day moving average of $408.12. The stock has a market cap of $18.08 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.34 and a beta of 0.95. 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 issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $3.69 earnings per share. As a group, analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.57%. Hubbell's dividend payout ratio is 36.77%.

Hubbell declared that its board has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Barclays dropped their price objective on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. reduced their price objective on Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Hubbell has a consensus rating of "Hold" and an average target price of $449.38.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.66% of the company's stock.

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.