Hubbell Incorporated (NYSE:HUBB) Insider Mark Eugene Mikes Sells 1,144 Shares

Hubbell Incorporated (NYSE:HUBB) insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred on 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 approximately $1,378,553.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hubbell Trading Up 0.4 %

NYSE HUBB opened at $453.79 on Thursday. The stock has a market cap of $24.36 billion, a P/E ratio of 32.69, a PEG ratio of 1.68 and a beta of 0.90. The company’s fifty day simple moving average is $432.35 and its 200-day simple moving average is $399.10. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 52 week low of $287.06 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business posted $3.95 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio is 38.04%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HUBB shares. Mizuho raised their price objective on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley raised their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Barclays raised their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Stephens reiterated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Institutional Trading of Hubbell

A number of hedge funds and other institutional investors have recently made changes to their positions in HUBB. Prospera Private Wealth LLC acquired a new position in Hubbell during the 3rd quarter worth $33,000. Ashton Thomas Securities LLC acquired a new position in Hubbell in the third quarter worth about $41,000. Quarry LP bought a new stake in Hubbell in the second quarter valued at about $49,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell during the third quarter valued at approximately $58,000. Finally, GAMMA Investing LLC lifted its holdings in Hubbell by 84.7% during the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after buying an additional 72 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

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.