Guinness Asset Management LTD Has $25.06 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Guinness Asset Management LTD lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 33.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,832 shares of the industrial products company’s stock after selling 29,944 shares during the period. Guinness Asset Management LTD owned about 0.11% of Hubbell worth $25,062,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of HUBB. Mizuho Securities USA LLC lifted its stake in Hubbell by 192,421.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after purchasing an additional 7,975,855 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after buying an additional 1,915,383 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after acquiring an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after acquiring an additional 168,380 shares in the last quarter. Finally, LGT Capital Partners LTD. bought a new stake in Hubbell during the 3rd quarter worth $39,687,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB opened at $437.52 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $442.54 and its two-hundred day simple moving average is $417.70. Hubbell Incorporated has a 12 month low of $322.27 and a 12 month high of $481.35. The stock has a market capitalization of $23.48 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93.

Hubbell (NYSE:HUBB) last announced its 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 return on equity of 28.81% and a net margin of 13.33%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.95 EPS. As a group, analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is currently 38.04%.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on HUBB. Mizuho lifted their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays lifted their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $471.50.

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.