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

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

Hubbell Price Performance

Shares of NYSE:HUBB opened at $372.25 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $418.28 and its two-hundred day simple moving average is $424.41. Hubbell Incorporated has a 1-year low of $346.13 and a 1-year high of $481.35. The stock has a market cap of $19.98 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $3.69 EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

Institutional Investors Weigh In On Hubbell

Several large investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its position in shares of Hubbell by 12.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 25 shares during the last quarter. JGP Wealth Management LLC increased its holdings in Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after acquiring an additional 26 shares during the last quarter. Huntington National Bank increased its holdings in Hubbell by 3.0% in the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company’s stock worth $371,000 after acquiring an additional 26 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Hubbell by 0.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company’s stock worth $2,757,000 after acquiring an additional 26 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in Hubbell by 0.5% in the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after acquiring an additional 27 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HUBB shares. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Barclays increased their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company cut their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently 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.