Sumitomo Mitsui Trust Group Inc. Acquires 1,435 Shares of Hubbell Incorporated (NYSE:HUBB)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,058 shares of the industrial products company’s stock after purchasing an additional 1,435 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Hubbell were worth $49,453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HUBB. Prospera Private Wealth LLC acquired a new position in Hubbell during the third quarter worth $33,000. Versant Capital Management Inc boosted its stake in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell during the 3rd quarter valued at about $41,000. Northwest Investment Counselors LLC bought a new position in shares of Hubbell in the 3rd quarter valued at approximately $58,000. Finally, GAMMA Investing LLC lifted its holdings in Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the topic of several analyst reports. Mizuho increased their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Morgan Stanley lifted their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $471.50.

Hubbell Stock Down 0.2 %

NYSE HUBB opened at $399.94 on Tuesday. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35. The stock has a market cap of $21.47 billion, a PE ratio of 27.85, a PEG ratio of 1.36 and a beta of 0.92. The firm has a 50-day simple moving average of $433.34 and a 200 day simple moving average of $422.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.64.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.69 EPS. On average, research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

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.