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

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

A number of other large investors have also recently made changes to their positions in the business. Mizuho Securities USA LLC lifted its stake 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 valued at $3,418,233,000 after acquiring 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 in the last quarter. Impax Asset Management Group plc increased its stake in 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 buying an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 worth $99,005,000 after buying an additional 168,380 shares in the last quarter. Finally, LGT Capital Partners LTD. bought a new position in shares of Hubbell in the third quarter valued at approximately $39,687,000. 88.16% of the stock is owned by institutional investors.

Hubbell Price Performance

HUBB stock traded up $3.60 during mid-day trading on Monday, reaching $437.52. 375,860 shares of the company traded hands, compared to its average volume of 293,018. The company has a fifty day moving average price of $442.54 and a 200-day moving average price of $417.70. Hubbell Incorporated has a 52-week low of $322.27 and a 52-week high of $481.35. The company has a market capitalization of $23.48 billion, a P/E ratio of 31.52, a P/E/G ratio of 1.45 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data 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. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the company earned $3.95 earnings per share. Hubbell's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts anticipate 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 given a dividend of $1.32 per share. 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. This is an increase from Hubbell's previous quarterly dividend of $1.22. Hubbell's dividend payout ratio (DPR) is 38.04%.

Analysts Set New Price Targets

Several research analysts have weighed in on HUBB shares. Mizuho boosted their price objective on Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Thursday. Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Barclays upped their price objective on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and lowered their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $471.50.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. 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 insiders.

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.