Hubbell Incorporated (NYSE:HUBB) Stock Holdings Lifted by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 31,402 shares of the industrial products company’s stock after buying an additional 846 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Hubbell were worth $13,154,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Creative Financial Designs Inc. ADV lifted its holdings in shares of Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 30 shares during the last quarter. Groupama Asset Managment raised its holdings in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new stake in Hubbell during the fourth quarter valued at about $30,000. Versant Capital Management Inc boosted its holdings in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after buying an additional 53 shares during the period. 88.16% of the stock is owned by institutional investors.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Down 3.0 %

Shares of NYSE:HUBB opened at $331.68 on Friday. The firm has a fifty day moving average of $379.97 and a two-hundred day moving average of $418.41. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 12-month low of $330.32 and a 12-month high of $481.35. The firm has a market capitalization of $17.80 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94.

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

Hubbell declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.59%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is presently 36.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company cut their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays decreased their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $462.13.

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.