Meiji Yasuda Asset Management Co Ltd. Has $278,000 Position in Hubbell Incorporated (NYSE:HUBB)

Meiji Yasuda Asset Management Co Ltd. decreased its stake in Hubbell Incorporated (NYSE:HUBB) by 87.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 760 shares of the industrial products company’s stock after selling 5,330 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Hubbell were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after buying an additional 918,808 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after acquiring an additional 322,728 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after purchasing an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in Hubbell by 575.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock worth $94,793,000 after purchasing an additional 245,536 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

HUBB has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Stephens restated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Barclays decreased their price target on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and boosted their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and a consensus price target of $404.88.

Hubbell Price Performance

HUBB stock opened at $426.01 on Friday. The company has a market capitalization of $22.87 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The business has a 50-day simple moving average of $381.79 and a two-hundred day simple moving average of $388.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $4.07 earnings per share. Hubbell’s revenue was up 6.3% compared to the same quarter last year. Research analysts expect that Hubbell Incorporated will post 16.45 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, August 30th. Hubbell’s payout ratio is currently 36.39%.

Insider Buying and Selling

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.