Guinness Atkinson Asset Management Inc Lowers Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Guinness Atkinson Asset Management Inc lowered its position in Hubbell Incorporated (NYSE:HUBB) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,663 shares of the industrial products company’s stock after selling 488 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Hubbell were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of HUBB. Mizuho Securities USA LLC raised its stake in shares of 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 in the last quarter. International Assets Investment Management LLC grew its position in Hubbell by 42,735.0% in the 3rd 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 purchasing an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc raised its stake in Hubbell by 30.3% during 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew 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 in the last quarter. Finally, LGT Capital Partners LTD. bought a new stake in Hubbell during the third quarter worth approximately $39,687,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HUBB has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley lifted their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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 firm has a market cap 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. The firm’s 50-day simple moving average is $442.54 and its 200-day simple moving average is $417.70. Hubbell Incorporated has a twelve month low of $322.27 and a twelve month high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

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

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, November 29th. This is a boost 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%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

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.