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

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 1.2% in the 4th quarter, according to its most recent disclosure 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 period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Hubbell worth $49,453,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Groupama Asset Managment raised its holdings in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Hubbell during the third quarter valued at approximately $33,000. Versant Capital Management Inc raised its holdings in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell during the third quarter valued at approximately $41,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Hubbell during the third quarter valued at approximately $58,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of HUBB traded down $3.30 during mid-day trading on Friday, reaching $389.93. The stock had a trading volume of 655,543 shares, compared to its average volume of 637,858. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.36 and a beta of 0.92. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The business has a fifty day moving average of $427.95 and a 200 day moving average of $423.00. 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 - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business earned $3.69 earnings per share. Hubbell's revenue for the quarter was down .9% on a year-over-year basis. Equities analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. Hubbell's dividend payout ratio is 36.77%.

Analyst Ratings Changes

Several research firms have recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and decreased their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 target price for the company. Finally, Barclays upped their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Hubbell has a consensus rating of "Hold" and an average price target of $471.50.

Hubbell 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.