Daiwa Securities Group Inc. Sells 293 Shares of Hubbell Incorporated (NYSE:HUBB)

Daiwa Securities Group Inc. cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,901 shares of the industrial products company’s stock after selling 293 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Hubbell were worth $4,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Manhattan Co. bought a new stake in shares of Hubbell during the 1st quarter worth $28,000. Baillie Gifford & Co. bought a new stake in Hubbell during the fourth quarter worth about $33,000. Atlas Capital Advisors LLC bought a new stake in Hubbell during the fourth quarter worth about $40,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Hubbell in the 4th quarter worth about $47,000. Finally, Coppell Advisory Solutions LLC bought a new position in shares of Hubbell during the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 1.0 %

NYSE HUBB opened at $388.29 on Friday. The stock has a market cap of $20.82 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. Hubbell Incorporated has a fifty-two week low of $229.83 and a fifty-two week high of $429.61. The stock has a 50 day simple moving average of $391.31 and a two-hundred day simple moving average of $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.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter 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. On average, analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Mizuho boosted 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Barclays raised their price objective on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $383.57.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Katherine Anne Lane sold 1,468 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now owns 9,355 shares of the company’s stock, valued at $3,297,731.05. 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 three months. Corporate insiders own 0.66% of the company’s stock.

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.