Guinness Atkinson Asset Management Inc Cuts Position in Hubbell Incorporated (NYSE:HUBB)

Guinness Atkinson Asset Management Inc decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 4.6% during the third quarter, HoldingsChannel reports. The firm owned 3,151 shares of the industrial products company’s stock after selling 153 shares during the period. Hubbell makes up approximately 0.7% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 27th biggest holding. Guinness Atkinson Asset Management Inc’s holdings in Hubbell were worth $1,350,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HUBB. Valeo Financial Advisors LLC purchased a new position in shares of Hubbell during the 3rd quarter valued at about $341,000. Peak Financial Advisors LLC bought a new position in Hubbell during the third quarter valued at approximately $3,387,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Hubbell by 54.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,578 shares of the industrial products company’s stock worth $676,000 after acquiring an additional 556 shares in the last quarter. JGP Wealth Management LLC lifted its holdings in shares of Hubbell by 8.0% in the 3rd quarter. JGP Wealth Management LLC now owns 2,084 shares of the industrial products company’s stock worth $893,000 after acquiring an additional 154 shares during the last quarter. Finally, Tobam bought a new stake in shares of Hubbell in the 3rd quarter worth approximately $78,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 3.0 %

HUBB traded up $13.12 during midday trading on Friday, reaching $456.57. 326,409 shares of the company’s stock traded hands, compared to its average volume of 447,486. The stock has a market capitalization of $24.51 billion, a price-to-earnings ratio of 33.75, a P/E/G ratio of 1.67 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $457.00. The firm has a fifty day moving average of $398.01 and a two-hundred day moving average of $391.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.07 earnings per share. On average, equities analysts anticipate that Hubbell Incorporated will post 16.41 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s payout ratio is 36.07%.

Analyst Ratings Changes

A number of brokerages recently commented on HUBB. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $385.00 to $454.00 in a research report on Thursday. Wells Fargo & Company raised their price objective on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Barclays boosted their target price on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Morgan Stanley assumed coverage on Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $423.13.

Insider Activity at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.