Hubbell (NYSE:HUBB) Insider Sells $1,152,255.00 in Stock

Hubbell Inc (NYSE:HUBB) insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the completion of the transaction, the insider directly owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This represents a 34.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Hubbell Trading Up 0.2%

HUBB opened at $462.40 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26. The stock has a market cap of $24.57 billion, a PE ratio of 28.68, a PEG ratio of 2.60 and a beta of 1.00. The business has a 50 day moving average of $436.38 and a 200-day moving average of $415.37.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Equities research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $1.42 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. Hubbell’s dividend payout ratio is 35.24%.

Institutional Trading of Hubbell

Institutional investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Hubbell by 86.6% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 123,417 shares of the industrial products company’s stock worth $53,108,000 after purchasing an additional 57,291 shares during the last quarter. Avestar Capital LLC increased its holdings in Hubbell by 61.3% in the 3rd quarter. Avestar Capital LLC now owns 1,031 shares of the industrial products company’s stock worth $444,000 after buying an additional 392 shares in the last quarter. Keyvantage Wealth LLC purchased a new position in Hubbell in the 3rd quarter worth about $205,000. Beirne Wealth Consulting Services LLC bought a new position in Hubbell during the 3rd quarter valued at about $261,000. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of Hubbell by 5.2% during the 3rd quarter. Crestwood Advisors Group LLC now owns 565 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 28 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent research reports. Barclays upped their price objective on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price objective on Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Mizuho boosted their target price on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $477.83.

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.