Guinness Asset Management LTD Sells 29,944 Shares of Hubbell Incorporated (NYSE:HUBB)

Guinness Asset Management LTD cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 33.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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’s holdings in Hubbell were worth $25,062,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent analyst reports. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Morgan Stanley boosted their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $471.50.

Hubbell Price Performance

Shares of Hubbell stock opened at $437.52 on Monday. The business has a 50 day moving average of $442.54 and a 200 day moving average of $417.70. The company has a market cap of $23.48 billion, a PE ratio of 31.52, a P/E/G ratio of 1.45 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 52 week low of $322.27 and a 52 week high of $481.35.

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

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $1.32 per share. This is an increase 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%. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the 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 in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.78% of the company’s stock.

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.