Sumitomo Mitsui DS Asset Management Company Ltd Has $1.58 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Hubbell Incorporated (NYSE:HUBB) by 15.8% during the 4th quarter, HoldingsChannel reports. The fund owned 4,810 shares of the industrial products company’s stock after buying an additional 657 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Hubbell were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of HUBB. Lindbrook Capital LLC boosted its stake in Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after buying an additional 51 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Hubbell during the fourth quarter worth $33,000. Sentry Investment Management LLC acquired a new stake in Hubbell during the fourth quarter worth $91,000. Grove Bank & Trust boosted its stake in Hubbell by 14.3% during the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock worth $125,000 after buying an additional 50 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Hubbell by 43.2% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the industrial products company’s stock worth $133,000 after buying an additional 128 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on HUBB. Wells Fargo & Company lifted their price target on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Mizuho lifted their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price on the stock. Finally, Barclays boosted their target price on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.57.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William R. Sperry sold 14,925 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the sale, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock valued at $12,065,100 over the last ninety days. 0.66% of the stock is owned by insiders.

Hubbell Stock Performance

Hubbell stock opened at $398.55 on Thursday. The stock has a 50-day simple moving average of $394.11 and a 200 day simple moving average of $341.52. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 2.42 and a beta of 0.94.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business posted $2.60 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $1.22 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.22%. Hubbell’s dividend payout ratio is 34.73%.

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.