Hubbell Incorporated (NYSE:HUBB) Insider Alyssa R. Flynn Sells 1,164 Shares

Hubbell Incorporated (NYSE:HUBB) insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hubbell Stock Down 2.5 %

HUBB opened at $368.20 on Tuesday. The business has a 50 day moving average price of $418.28 and a two-hundred day moving average price of $424.41. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The company has a market cap of $19.76 billion, a PE ratio of 25.64, a P/E/G ratio of 1.34 and a beta of 0.92. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

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

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell declared that its board has initiated a stock repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Hubbell

A number of hedge funds have recently added to or reduced their stakes in HUBB. Creative Planning raised its stake in shares of Hubbell by 19.3% during the 3rd quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock worth $1,775,000 after buying an additional 671 shares in the last quarter. Signaturefd LLC lifted its holdings in Hubbell by 20.3% in the third quarter. Signaturefd LLC now owns 278 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 47 shares during the period. Private Advisor Group LLC boosted its position in shares of Hubbell by 10.8% during the 3rd quarter. Private Advisor Group LLC now owns 5,196 shares of the industrial products company’s stock worth $2,226,000 after purchasing an additional 508 shares in the last quarter. Greenleaf Trust grew its stake in shares of Hubbell by 10.4% during the 3rd quarter. Greenleaf Trust now owns 761 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 72 shares during the period. Finally, Ballentine Partners LLC increased its holdings in shares of Hubbell by 3.2% in the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on HUBB shares. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Barclays raised their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $471.50.

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.