Daiwa Securities Group Inc. Has $4.90 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

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

A number of other hedge funds also recently made changes to their positions in HUBB. Vanguard Group Inc. grew its stake in Hubbell by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock valued at $1,810,812,000 after buying an additional 96,435 shares during the last quarter. BlackRock Inc. grew its position in shares of Hubbell by 1.7% in the first quarter. BlackRock Inc. now owns 5,457,568 shares of the industrial products company’s stock valued at $1,327,881,000 after purchasing an additional 89,491 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Hubbell by 5.8% during the first quarter. JPMorgan Chase & Co. now owns 2,731,202 shares of the industrial products company’s stock worth $664,529,000 after purchasing an additional 148,953 shares during the period. FMR LLC lifted its holdings in Hubbell by 2.9% during the 3rd quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock worth $803,572,000 after purchasing an additional 71,962 shares during the last quarter. Finally, State Street Corp boosted its stake in Hubbell by 2.1% in the 1st quarter. State Street Corp now owns 1,753,314 shares of the industrial products company’s stock valued at $426,599,000 after purchasing an additional 35,752 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Performance

NYSE:HUBB opened at $388.29 on Friday. Hubbell Incorporated has a twelve month low of $229.83 and a twelve month high of $429.61. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock’s 50-day simple moving average is $391.31 and its 200 day simple moving average is $338.83. The firm has a market capitalization of $20.82 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 EPS. On average, analysts anticipate that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 yield of 1.26%. Hubbell’s payout ratio is presently 34.73%.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction on 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 directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,125 shares of company stock worth $12,065,100. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.