Sumitomo Mitsui Trust Holdings Inc. Has $41.46 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Hubbell Incorporated (NYSE:HUBB) by 0.1% during the 4th quarter, HoldingsChannel.com reports. 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.’s holdings in Hubbell were worth $41,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. North Star Asset Management Inc. increased its stake in Hubbell by 1.5% during the third quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock valued at $746,000 after acquiring an additional 36 shares during the period. Tevis Investment Management increased its position in shares of Hubbell by 4.0% during the third quarter. Tevis Investment Management now owns 960 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 37 shares during the period. Lindenwold Advisors INC raised its stake in shares of Hubbell by 1.6% in the third quarter. Lindenwold Advisors INC now owns 2,584 shares of the industrial products company’s stock valued at $810,000 after purchasing an additional 41 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in Hubbell by 2.4% in the third quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 45 shares during the period. Finally, 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. 88.16% of the stock is owned by institutional investors.

Hubbell Price Performance

Hubbell stock opened at $388.29 on Friday. The business’s fifty day moving average is $391.31 and its two-hundred day moving average is $338.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The firm has a market cap of $20.82 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.38 and a beta of 0.94. Hubbell Incorporated has a 52 week low of $229.83 and a 52 week high of $429.61.

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. Equities research analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 annualized dividend and a dividend yield of 1.26%. Hubbell’s dividend payout ratio (DPR) is currently 34.73%.

Insider Activity at Hubbell

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

Wall Street Analyst Weigh In

HUBB has been the subject of a number of recent research reports. 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 price objective for the company. Barclays lifted their price objective on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, April 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. Mizuho raised their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $383.57.

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.