Guinness Asset Management LTD grew its stake in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 21.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 224,221 shares of the industrial products company’s stock after purchasing an additional 39,961 shares during the quarter. Hubbell comprises about 1.5% of Guinness Asset Management LTD’s portfolio, making the stock its 20th biggest holding. Guinness Asset Management LTD’s holdings in Hubbell were worth $41,205,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Impax Asset Management Group plc lifted its stake in Hubbell by 3.7% in the 4th quarter. Impax Asset Management Group plc now owns 2,196,469 shares of the industrial products company’s stock valued at $457,459,000 after purchasing an additional 77,761 shares during the last quarter. State Street Corp lifted its position in shares of Hubbell by 1.9% in the fourth quarter. State Street Corp now owns 1,432,197 shares of the industrial products company’s stock valued at $298,284,000 after buying an additional 26,570 shares during the last quarter. Boston Trust Walden Corp boosted its stake in shares of Hubbell by 1.0% during the 4th quarter. Boston Trust Walden Corp now owns 614,838 shares of the industrial products company’s stock worth $128,052,000 after acquiring an additional 5,828 shares during the period. Wellington Management Group LLP increased its holdings in shares of Hubbell by 1,077.1% during the 3rd quarter. Wellington Management Group LLP now owns 591,506 shares of the industrial products company’s stock worth $106,868,000 after acquiring an additional 541,253 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Hubbell by 0.8% in the 4th quarter. Northern Trust Corp now owns 448,531 shares of the industrial products company’s stock valued at $93,416,000 after acquiring an additional 3,744 shares during the period. Institutional investors own 86.37% of the company’s stock.
HUBB has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Hubbell from $181.00 to $200.00 in a report on Thursday, April 28th. Morgan Stanley reduced their target price on shares of Hubbell from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Tuesday, May 31st. Finally, StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, April 30th.
HUBB opened at $173.29 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.00 and a quick ratio of 1.27. The business has a fifty day simple moving average of $189.90 and a 200 day simple moving average of $190.92. Hubbell Incorporated has a 1 year low of $170.21 and a 1 year high of $212.54. The company has a market capitalization of $9.30 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13.
Hubbell (NYSE:HUBB – Get Rating) last announced its earnings results on Tuesday, April 26th. The industrial products company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.86 by $0.26. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Hubbell had a net margin of 10.77% and a return on equity of 21.89%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. Equities analysts anticipate that Hubbell Incorporated will post 9.3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were given a dividend of $1.05 per share. The ex-dividend date was Friday, May 27th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.42%. Hubbell’s payout ratio is 45.80%.
Hubbell Profile (Get Rating)
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.
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