Guinness Asset Management LTD Trims Stock Holdings in Hubbell Inc $HUBB

Guinness Asset Management LTD lowered its holdings in Hubbell Inc (NYSE:HUBB) by 20.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,298 shares of the industrial products company’s stock after selling 9,629 shares during the period. Guinness Asset Management LTD owned approximately 0.07% of Hubbell worth $15,639,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in Hubbell during the 2nd quarter valued at $29,000. Tsfg LLC bought a new position in shares of Hubbell in the first quarter worth $30,000. Cullen Frost Bankers Inc. grew its position in shares of Hubbell by 400.0% in the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 68 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Hubbell during the 1st quarter valued at $53,000. Finally, Groupe la Francaise bought a new stake in shares of Hubbell during the 1st quarter valued at $57,000. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Up 0.4%

HUBB stock opened at $435.02 on Monday. The company’s 50 day moving average is $431.29 and its 200 day moving average is $407.04. The stock has a market cap of $23.12 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.42 and a beta of 0.96. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35.

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, beating the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Sell-side analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date is Friday, November 28th. Hubbell’s dividend payout ratio (DPR) is presently 34.29%.

Analysts Set New Price Targets

HUBB has been the subject of several analyst reports. Mizuho raised their target price on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Barclays increased their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Wall Street Zen lowered shares of Hubbell from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Stephens reiterated an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $476.50.

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.