Sumitomo Mitsui DS Asset Management Company Ltd Purchases 154 Shares of Hubbell Incorporated (NYSE:HUBB)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,979 shares of the industrial products company’s stock after purchasing an additional 154 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Hubbell were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 72 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Hubbell by 54.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,578 shares of the industrial products company’s stock worth $676,000 after buying an additional 556 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Hubbell in the 3rd quarter valued at about $341,000. Exchange Traded Concepts LLC raised its position in shares of Hubbell by 66.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,891 shares of the industrial products company’s stock valued at $2,952,000 after acquiring an additional 2,757 shares during the period. Finally, Creative Planning boosted its stake in Hubbell by 19.3% during the 3rd quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock worth $1,775,000 after acquiring an additional 671 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays increased their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company lowered their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Mizuho increased their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Price Performance

Shares of NYSE HUBB opened at $399.94 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average price is $433.34 and its two-hundred day moving average price is $422.91. The company has a market cap of $21.47 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last posted 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 return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the firm earned $3.69 EPS. The firm’s revenue was down .9% compared to the same quarter last year. On average, analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

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

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.