Insider Selling: Hubbell Incorporated (NYSE:HUBB) Insider Sells $533,332.80 in Stock

Hubbell Incorporated (NYSE:HUBB) insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Hubbell Trading Down 3.0 %

HUBB stock opened at $440.07 on Friday. The business has a fifty day moving average price of $432.35 and a 200 day moving average price of $399.10. The stock has a market capitalization of $23.62 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.68 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a fifty-two week low of $287.06 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $3.95 earnings per share. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is presently 38.04%.

Hedge Funds Weigh In On Hubbell

Several hedge funds have recently added to or reduced their stakes in the company. IFG Advisory LLC acquired a new position in Hubbell during the 2nd quarter valued at about $475,000. Acadian Asset Management LLC grew its holdings in Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after acquiring an additional 1,252 shares during the period. Great Valley Advisor Group Inc. grew its holdings in Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after acquiring an additional 1,359 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Hubbell by 2.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after acquiring an additional 2,822 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in shares of Hubbell in the 1st quarter worth $582,000. Institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HUBB. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and upped their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company upped their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $445.56.

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.