Guinness Asset Management LTD Decreases Position in Hubbell Inc $HUBB

Guinness Asset Management LTD cut its holdings in Hubbell Inc (NYSE:HUBB) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,298 shares of the industrial products company’s stock after selling 9,629 shares during the period. Guinness Asset Management LTD’s holdings in Hubbell were worth $15,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Central Pacific Bank Trust Division purchased a new position in shares of Hubbell in the second quarter worth about $29,000. Cullen Frost Bankers Inc. boosted its holdings in Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 68 shares during the period. Tsfg LLC bought a new position in Hubbell during the 1st quarter worth approximately $30,000. Ransom Advisory Ltd bought a new position in Hubbell during the 1st quarter worth approximately $53,000. Finally, Groupe la Francaise purchased a new position in Hubbell in the 1st quarter worth approximately $57,000. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Performance

Hubbell stock opened at $435.02 on Monday. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The stock’s 50 day simple moving average is $431.29 and its two-hundred day simple moving average is $407.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The stock has a market cap of $23.12 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 2.42 and a beta of 0.96.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $0.57. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $1.42 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 28th. Hubbell’s payout ratio is 34.29%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho boosted their price objective on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Stephens reaffirmed an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research report on Saturday. Wells Fargo & Company raised shares of Hubbell from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Finally, Wall Street Zen cut shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $476.50.

Hubbell Company 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.