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 Hubbell stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction 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 approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hubbell Stock Performance

Hubbell stock traded down $9.28 during trading on Monday, hitting $368.20. The stock had a trading volume of 916,593 shares, compared to its average volume of 629,613. The stock’s 50 day moving average is $420.03 and its two-hundred day moving average is $424.45. 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 $19.76 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth 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 issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.69 EPS. As a group, 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 given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.43%. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell announced that its board has initiated a stock repurchase plan 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 plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Barclays increased 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. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Morgan Stanley upped 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. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $471.50.

Institutional Trading of Hubbell

Institutional investors have recently modified their holdings of the business. Great Valley Advisor Group Inc. grew its stake in Hubbell by 8.1% in the 4th quarter. Great Valley Advisor Group Inc. now owns 11,215 shares of the industrial products company’s stock valued at $4,698,000 after buying an additional 836 shares in the last quarter. Challenger Wealth Management bought a new position in shares of Hubbell in the fourth quarter worth $293,000. Toronto Dominion Bank boosted its holdings in shares of Hubbell by 59.1% in the fourth quarter. Toronto Dominion Bank now owns 28,719 shares of the industrial products company’s stock worth $12,030,000 after acquiring an additional 10,667 shares during the period. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Hubbell in the fourth quarter valued at $1,094,000. Finally, Pacific Point Advisors LLC bought a new stake in shares of Hubbell during the 4th quarter valued at $4,492,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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.