Hubbell (NYSE:HUBB) Insider Mark Eugene Mikes Sells 2,470 Shares

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

Hubbell Stock Performance

Shares of HUBB stock traded down $6.41 during midday trading on Thursday, hitting $461.65. 482,223 shares of the company were exchanged, compared to its average volume of 606,300. The firm has a market capitalization of $24.53 billion, a P/E ratio of 28.64, a PEG ratio of 2.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.36. The firm’s 50 day moving average price is $435.44 and its two-hundred day moving average price is $413.60. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $484.26.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping the consensus estimate 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 net margin of 15.24% and a return on equity of 27.68%. Hubbell’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

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

Institutional Trading of Hubbell

Several large investors have recently made changes to their positions in the company. DDD Partners LLC boosted its position in shares of Hubbell by 2.9% during the 3rd quarter. DDD Partners LLC now owns 33,310 shares of the industrial products company’s stock worth $14,334,000 after acquiring an additional 937 shares in the last quarter. Camden National Bank raised its holdings in shares of Hubbell by 1.5% during the 3rd quarter. Camden National Bank now owns 2,856 shares of the industrial products company’s stock worth $1,229,000 after buying an additional 42 shares in the last quarter. Assetmark Inc. lifted its position in shares of Hubbell by 0.6% during the 3rd quarter. Assetmark Inc. now owns 7,748 shares of the industrial products company’s stock worth $3,334,000 after buying an additional 50 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Hubbell by 15.1% in the third quarter. Public Sector Pension Investment Board now owns 4,629 shares of the industrial products company’s stock valued at $1,992,000 after buying an additional 608 shares in the last quarter. Finally, Caprock Group LLC bought a new position in Hubbell in the third quarter valued at about $1,382,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the subject of a number of research reports. Mizuho lifted 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. Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a report on Sunday. JPMorgan Chase & Co. lifted their target price on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Wells Fargo & Company lifted their target price on Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research note on Thursday, September 11th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $477.83.

About Hubbell

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.