Sumitomo Mitsui Trust Group Inc. Lowers Position in Hubbell Inc $HUBB

Key Points

• Sumitomo Mitsui Trust Group reduced its Hubbell stake by 5.2% in the first quarter, selling 6,335 shares and leaving it with 114,805 shares worth about $56.3 million.
• Hubbell reported better-than-expected quarterly results, with EPS of $3.93 and revenue of $1.52 billion, while revenue rose 11.1% from a year earlier.
• Analysts remain generally positive: the stock carries a Moderate Buy consensus with an average price target of $554.38, and several firms recently raised their targets.

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,805 shares of the industrial products company's stock after selling 6,335 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Hubbell worth $56,339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. Wellington Management Group LLP lifted its position in Hubbell by 140.4% during the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company's stock valued at $1,116,773,000 after buying an additional 1,468,701 shares during the period. State Street Corp grew its position in shares of Hubbell by 1.8% in the 4th quarter. State Street Corp now owns 2,302,567 shares of the industrial products company's stock worth $1,022,593,000 after buying an additional 40,623 shares during the period. Geode Capital Management LLC increased its stake in shares of Hubbell by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company's stock worth $608,704,000 after acquiring an additional 10,898 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Hubbell by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,214,236 shares of the industrial products company's stock worth $539,257,000 after acquiring an additional 60,071 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Hubbell by 0.8% during the 4th quarter. Deutsche Bank AG now owns 1,142,410 shares of the industrial products company's stock valued at $507,356,000 after acquiring an additional 9,202 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on HUBB. UBS Group reissued a "neutral" rating and set a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Weiss Ratings raised shares of Hubbell from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 29th. Stephens lifted their target price on shares of Hubbell from $550.00 to $600.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Wells Fargo & Company boosted their price target on Hubbell from $530.00 to $560.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Finally, Barclays upped their price target on Hubbell from $481.00 to $503.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $554.38.

Hubbell Stock Up 1.3%

Hubbell stock traded up $6.18 during mid-day trading on Friday, reaching $491.60. The stock had a trading volume of 293,223 shares, compared to its average volume of 557,363. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50. The company has a 50-day moving average price of $490.25 and a two-hundred day moving average price of $494.46. The company has a market capitalization of $25.98 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 2.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.58 and a quick ratio of 0.94.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, beating analysts' consensus estimates of $3.87 by $0.06. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.50 billion. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. Hubbell's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $3.50 EPS. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. On average, analysts expect that Hubbell Inc will post 19.83 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. Hubbell's dividend payout ratio (DPR) is 33.55%.

Hubbell Company Profile

Hubbell Incorporated NYSE: HUBB is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company's offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.

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