Hubbell Incorporated (NYSE:HUBB) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,623 shares of the industrial products company’s stock after selling 135 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Hubbell were worth $49,955,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. OLD National Bancorp IN lifted its position in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after buying an additional 22 shares during the last quarter. CWM LLC lifted its position in Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after buying an additional 28 shares during the last quarter. Detalus Advisors LLC lifted its position in Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after buying an additional 30 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares in the last quarter. Finally, Savant Capital LLC lifted its position in shares of Hubbell by 2.6% during the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of Hubbell stock opened at $437.61 on Friday. The firm has a market capitalization of $23.49 billion, a P/E ratio of 31.53, a P/E/G ratio of 1.69 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $287.06 and a 52 week high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $433.75 and its two-hundred day moving average is $399.39.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.95 earnings per share. Research analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. Hubbell’s dividend payout ratio (DPR) is 35.16%.

Analyst Ratings Changes

Several analysts have recently issued reports on HUBB shares. Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and increased their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, Wells Fargo & Company increased their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

About Hubbell

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.