Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Hubbell Incorporated (NYSE:HUBB) by 15.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,810 shares of the industrial products company’s stock after purchasing an additional 657 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Hubbell were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC boosted its stake in shares of Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 51 shares during the period. abrdn plc boosted its stake in shares of Hubbell by 2,167.6% in the fourth quarter. abrdn plc now owns 206,643 shares of the industrial products company’s stock valued at $67,971,000 after purchasing an additional 197,530 shares during the period. J.W. Cole Advisors Inc. bought a new position in Hubbell during the 4th quarter valued at $340,000. HTLF Bank bought a new position in Hubbell during the 4th quarter valued at $987,000. Finally, Calamos Advisors LLC bought a new position in Hubbell during the 4th quarter valued at $3,083,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HUBB has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price objective on the stock. Barclays increased their price objective on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Mizuho increased their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $383.57.

Hubbell Stock Up 0.1 %

Shares of NYSE:HUBB opened at $398.55 on Thursday. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The company’s fifty day moving average is $394.11 and its two-hundred day moving average is $341.52. 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 data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $2.60 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts anticipate that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $1.22 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.22%. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Insider Buying and Selling

In related news, CFO William R. Sperry sold 14,925 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $352.99, for a total value of $5,268,375.75. Following the sale, the chief financial officer now owns 37,848 shares of the company’s stock, valued at approximately $13,359,965.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Hubbell news, CFO William R. Sperry sold 14,925 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the transaction, the chief financial officer now owns 37,848 shares of the company’s stock, valued at approximately $13,359,965.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gerben Bakker sold 13,355 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the transaction, the chief executive officer now directly owns 51,783 shares in the company, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock valued at $12,065,100 in the last quarter. Company 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.