Sumitomo Mitsui Trust Group Inc. Sells 6,335 Shares of Hubbell Inc $HUBB

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Hubbell Inc (NYSE:HUBB) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,805 shares of the industrial products company’s stock after selling 6,335 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Hubbell were worth $56,339,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BSW Wealth Partners raised its position in Hubbell by 2.9% in the 4th quarter. BSW Wealth Partners now owns 769 shares of the industrial products company’s stock worth $341,000 after buying an additional 22 shares during the last quarter. GAMMA Investing LLC lifted its stake in Hubbell by 2.2% during the 4th quarter. GAMMA Investing LLC now owns 1,065 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 23 shares during the period. Ballentine Partners LLC boosted its holdings in shares of Hubbell by 1.9% during the 4th quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company’s stock valued at $572,000 after acquiring an additional 24 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Hubbell by 2.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 24 shares during the last quarter. Finally, Quest Investment Management LLC boosted its holdings in shares of Hubbell by 1.3% during the 3rd quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock valued at $816,000 after acquiring an additional 25 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HUBB shares. Stephens boosted their price objective on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Wells Fargo & Company raised their target price on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Weiss Ratings raised shares of Hubbell from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Barclays lifted their target price on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Finally, UBS Group reiterated a “neutral” rating and set a $515.00 target price on shares of Hubbell in a research note on Tuesday, June 16th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and an average target price of $554.38.

Hubbell Stock Performance

NYSE:HUBB traded up $6.18 on Friday, hitting $491.60. The stock had a trading volume of 293,223 shares, compared to its average volume of 557,363. The business’s 50-day simple moving average is $490.25 and its two-hundred day simple moving average is $494.46. The stock has a market cap of $25.98 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.87 by $0.06. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $3.50 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. As a group, research analysts predict that Hubbell Inc will post 19.83 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 29th. Hubbell’s dividend payout ratio is currently 33.55%.

Hubbell Company Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.