Insider Selling: Hubbell Incorporated (NYSE:HUBB) Insider Sells 1,164 Shares of Stock

Hubbell Incorporated (NYSE:HUBB - Get Free Report) insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction dated 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 directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hubbell Stock Down 1.4 %

Hubbell stock traded down $5.27 during midday trading on Thursday, hitting $372.12. The stock had a trading volume of 219,071 shares, compared to its average volume of 624,323. 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 business has a fifty day moving average price of $415.98 and a 200 day moving average price of $424.05. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The stock has a market cap of $19.97 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business's revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.69 EPS. Research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.42%. Hubbell's dividend payout ratio is currently 36.77%.

Hubbell announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Institutional Trading of Hubbell

Hedge funds have recently made changes to their positions in the stock. Mizuho Securities USA LLC grew its position in shares of Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company's stock worth $3,418,233,000 after acquiring an additional 7,975,855 shares during the last quarter. Norges Bank bought a new stake in shares of Hubbell during the fourth quarter valued at about $195,218,000. Impax Asset Management Group plc grew its position in Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company's stock valued at $514,377,000 after buying an additional 279,654 shares in the last quarter. Marshall Wace LLP grew its holdings in Hubbell by 418.1% during the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock worth $128,620,000 after acquiring an additional 247,786 shares during the period. Finally, Bain Capital Public Equity Management II LLC bought a new position in shares of Hubbell in the fourth quarter valued at $95,868,000. Institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HUBB. Barclays increased their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a "buy" rating to a "hold" rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company lowered their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Finally, Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target for the company. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.