Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,030 shares of the industrial products company’s stock after selling 144 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of Hubbell worth $41,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. acquired a new position in shares of Hubbell in the 4th quarter valued at approximately $33,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Hubbell during the second quarter worth approximately $50,000. First Manhattan Co. bought a new stake in shares of Hubbell in the first quarter worth $28,000. Atlas Capital Advisors LLC acquired a new stake in Hubbell in the fourth quarter valued at $40,000. Finally, Coppell Advisory Solutions Corp. bought a new position in Hubbell during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other news, CFO William R. Sperry sold 14,925 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the transaction, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO William R. Sperry sold 14,925 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $352.99, for a total value of $5,268,375.75. Following the completion of the sale, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at approximately $13,359,965.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gerben Bakker sold 13,355 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the transaction, the chief executive officer now owns 51,783 shares in the company, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock valued at $12,065,100 in the last quarter. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hubbell Price Performance

Shares of HUBB opened at $388.29 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The company has a market cap of $20.82 billion, a P/E ratio of 27.64, a PEG ratio of 2.38 and a beta of 0.94. Hubbell Incorporated has a 12 month low of $229.83 and a 12 month high of $429.61. The stock has a fifty day moving average price of $391.31 and a 200 day moving average price of $338.83.

Hubbell (NYSE:HUBB) last posted its 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 net margin of 14.14% and a return on equity of 30.82%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $2.60 EPS. Hubbell’s revenue was up 10.3% on a year-over-year basis. On average, research analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.26%. The ex-dividend date was Wednesday, February 28th. Hubbell’s dividend payout ratio is currently 34.73%.

Hubbell Company 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.