Hubbell Incorporated (NYSE:HUBB) Position Boosted by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its position in Hubbell Incorporated (NYSE:HUBB) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,402 shares of the industrial products company’s stock after buying an additional 846 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Hubbell worth $13,154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Hubbell by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock valued at $2,779,212,000 after acquiring an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after purchasing an additional 129,490 shares during the period. State Street Corp increased its stake in Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after purchasing an additional 22,507 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Hubbell by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after purchasing an additional 8,278 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Hubbell by 1.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 350,367 shares of the industrial products company’s stock worth $146,765,000 after buying an additional 3,586 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $331.68 on Friday. Hubbell Incorporated has a 12-month low of $330.32 and a 12-month high of $481.35. 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 company has a market cap of $17.80 billion, a PE ratio of 23.10, a P/E/G ratio of 1.34 and a beta of 0.94. The stock has a 50 day simple moving average of $379.97 and a 200-day simple moving average of $418.41.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business posted $3.69 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their price target 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. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Hold” and an average target price of $462.13.

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.