Hubbell Incorporated (NYSE:HUBB) insider Darrin S. Wegman sold 3,925 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $127.06, for a total value of $498,710.50. Following the sale, the insider now owns 19,149 shares of the company’s stock, valued at approximately $2,433,071.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Hubbell stock traded up $0.42 during trading on Friday, hitting $125.82. 322,614 shares of the company were exchanged, compared to its average volume of 320,921. Hubbell Incorporated has a 52 week low of $91.88 and a 52 week high of $137.67. The company has a market capitalization of $6.87 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46. The company has a current ratio of 1.95, a quick ratio of 1.16 and a debt-to-equity ratio of 0.95.
Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.02. Hubbell had a return on equity of 23.09% and a net margin of 8.17%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. Hubbell’s revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Hubbell Incorporated will post 8.1 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.36 annualized dividend and a yield of 2.67%. Hubbell’s dividend payout ratio (DPR) is currently 46.09%.
Several equities research analysts have recently commented on HUBB shares. Zacks Investment Research downgraded Hubbell from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. ValuEngine upgraded Hubbell from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, JMP Securities set a $146.00 price objective on Hubbell and gave the company a “buy” rating in a report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Hubbell currently has a consensus rating of “Hold” and a consensus price target of $131.00.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Hubbell by 9.5% during the first quarter. BlackRock Inc. now owns 5,940,281 shares of the industrial products company’s stock worth $700,833,000 after buying an additional 516,378 shares in the last quarter. Vanguard Group Inc grew its stake in Hubbell by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 5,362,450 shares of the industrial products company’s stock valued at $716,262,000 after purchasing an additional 39,278 shares during the period. American Century Companies Inc. grew its stake in Hubbell by 75.1% in the 4th quarter. American Century Companies Inc. now owns 4,463,727 shares of the industrial products company’s stock valued at $443,427,000 after purchasing an additional 1,914,706 shares during the period. Lord Abbett & CO. LLC grew its stake in Hubbell by 64.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,762,758 shares of the industrial products company’s stock valued at $175,112,000 after purchasing an additional 693,479 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Hubbell by 1.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,139,552 shares of the industrial products company’s stock valued at $113,203,000 after purchasing an additional 17,325 shares during the period. Institutional investors and hedge funds own 86.61% of the company’s stock.
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Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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