Insider Selling: Hubbell Incorporated (NYSE:HUBB) Insider Sells $452,865.84 in Stock

Hubbell Incorporated (NYSE:HUBB) insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hubbell Stock Performance

NYSE HUBB opened at $377.81 on Thursday. The company has a fifty day moving average price of $416.93 and a 200-day moving average price of $424.37. The firm has a market cap of $20.28 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.69 EPS. As a group, equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Creative Financial Designs Inc. ADV raised its stake in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares during the period. Groupama Asset Managment increased its holdings in Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Hubbell in the fourth quarter worth about $30,000. Prospera Private Wealth LLC purchased a new position in Hubbell in the third quarter valued at about $33,000. Finally, Versant Capital Management Inc grew its position in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the period. Institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Barclays raised their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Sanford C. Bernstein began coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Hubbell currently has an average rating of “Hold” and a consensus price target of $471.50.

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.