Mitsubishi UFJ Asset Management Co. Ltd. Acquires 9,480 Shares of Hubbell Incorporated (NYSE:HUBB)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,836 shares of the industrial products company's stock after buying an additional 9,480 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Hubbell worth $36,561,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV raised its stake in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after buying an additional 30 shares during the period. Groupama Asset Managment raised its holdings in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Hubbell in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc grew its position in 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 acquiring an additional 31 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after purchasing an additional 53 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

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Hubbell Trading Down 7.8 %

Shares of HUBB stock traded down $26.81 during mid-day trading on Thursday, reaching $314.81. The stock had a trading volume of 176,625 shares, compared to its average volume of 644,026. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock's 50-day moving average price is $373.18 and its two-hundred day moving average price is $417.35. The firm has a market capitalization of $16.90 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 52-week low of $313.13 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during 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 quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.69 EPS. Equities analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's dividend payout ratio (DPR) is currently 36.77%.

Hubbell announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HUBB. Barclays dropped 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, March 26th. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Hubbell currently has a consensus rating of "Hold" and an average price target of $462.13.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.66% of the company's stock.

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.