Hubbell Inc (NYSE:HUBB) insider Gerben Bakker sold 590 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $125.34, for a total value of $73,950.60. Following the sale, the insider now owns 13,249 shares in the company, valued at approximately $1,660,629.66. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Hubbell Inc (NYSE HUBB) traded down $0.39 during trading hours on Monday, reaching $122.60. The company had a trading volume of 260,700 shares, compared to its average volume of 285,486. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.43 and a current ratio of 2.28. The stock has a market cap of $6,706.22, a P/E ratio of 21.36, a PEG ratio of 2.25 and a beta of 1.10. Hubbell Inc has a 52 week low of $109.27 and a 52 week high of $127.34.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.15. Hubbell had a return on equity of 19.69% and a net margin of 7.96%. The firm had revenue of $950.50 million for the quarter, compared to analysts’ expectations of $960.28 million. During the same period in the previous year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. equities research analysts anticipate that Hubbell Inc will post 5.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $0.70. This represents a $3.08 dividend on an annualized basis and a yield of 2.51%. Hubbell’s payout ratio is currently 53.95%.
Hubbell announced that its board has approved a stock repurchase program on Friday, October 20th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Hubbell by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,545,258 shares of the industrial products company’s stock worth $514,386,000 after purchasing an additional 89,275 shares in the last quarter. BlackRock Inc. increased its stake in shares of Hubbell by 1.4% in the 2nd quarter. BlackRock Inc. now owns 4,282,003 shares of the industrial products company’s stock worth $484,595,000 after purchasing an additional 57,699 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Hubbell by 1.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,027,573 shares of the industrial products company’s stock worth $234,915,000 after buying an additional 25,710 shares in the last quarter. American Century Companies Inc. increased its stake in Hubbell by 3.8% in the 3rd quarter. American Century Companies Inc. now owns 1,770,634 shares of the industrial products company’s stock worth $205,429,000 after buying an additional 64,779 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Hubbell by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,691,911 shares of the industrial products company’s stock worth $191,474,000 after buying an additional 122,855 shares in the last quarter. Hedge funds and other institutional investors own 84.05% of the company’s stock.
HUBB has been the subject of a number of research analyst reports. BidaskClub downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Zacks Investment Research lowered Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $132.00 price objective (up previously from $130.00) on shares of Hubbell in a research note on Monday, October 2nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $124.00.
Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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