Insider Selling: Hubbell Incorporated (NYSE:HUBB) Insider Sells 1,942 Shares of Stock

Hubbell Incorporated (NYSE:HUBB - Get Free Report) insider Mark Eugene Mikes sold 1,942 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the sale, the insider now owns 3,436 shares of the company's stock, valued at approximately $1,379,004.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hubbell Trading Up 0.9 %

Shares of NYSE HUBB traded up $3.69 during trading hours on Wednesday, hitting $404.73. 340,011 shares of the company traded hands, compared to its average volume of 425,583. The stock has a market capitalization of $21.73 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 1.56 and a beta of 0.96. The company's 50 day moving average price is $401.14 and its 200 day moving average price is $351.78. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $429.61. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.54 by $0.06. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The firm's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.61 EPS. On average, equities research analysts anticipate that Hubbell Incorporated will post 16.35 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a dividend of $1.22 per share. The ex-dividend date is Friday, May 31st. This represents a $4.88 annualized dividend and a dividend yield of 1.21%. Hubbell's dividend payout ratio is currently 36.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HUBB shares. Mizuho increased their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a "hold" rating and a $427.00 price target on the stock. StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, February 2nd. Wells Fargo & Company decreased their target price on Hubbell from $435.00 to $397.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 1st. Finally, Barclays cut their price target on Hubbell from $400.00 to $384.00 and set an "equal weight" rating for the company in a report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $386.57.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Van Leeuwen & Company LLC raised its position in shares of Hubbell by 59.8% in the 4th quarter. Van Leeuwen & Company LLC now owns 8,265 shares of the industrial products company's stock worth $2,719,000 after acquiring an additional 3,092 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its position in shares of Hubbell by 265.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company's stock worth $13,563,000 after buying an additional 29,959 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Hubbell by 119.0% during the 4th quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company's stock worth $50,388,000 after acquiring an additional 83,581 shares in the last quarter. PFG Advisors purchased a new stake in Hubbell during the fourth quarter valued at approximately $1,108,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in Hubbell by 117.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,456 shares of the industrial products company's stock valued at $6,729,000 after buying an additional 11,046 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

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.

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