In a recent transaction, Alyssa R. Flynn, Chief Human Resources Officer at Hubbell Inc (NYSE:HUBB), sold 1,106 shares of the company's common stock, resulting in total proceeds exceeding $449,000. The sale took place on May 10, 2024, with the weighted average sales price per share being approximately $406.79.
The transaction was part of a series of trades by Flynn on the same date, which also included acquiring 1,361 shares through the exercise of stock appreciation rights at a price of $105.485 per share, totaling around $143,565. Additionally, Flynn disposed of 789 shares at $406.025 each to cover tax liabilities, amounting to over $320,000, as indicated by a footnote in the filing. This disposal was related to the stock appreciation rights that vested and became exercisable in three equal annual installments beginning on December 14, 2019.
Following these transactions, Flynn's ownership in Hubbell Inc stands at 4,233.757 shares of common stock. The sales were executed in multiple trades, with prices ranging from $406.689 to $406.89. The reported price represents the weighted average of these sales.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the stock's value and future performance. The details of these trades are disclosed in compliance with SEC regulations and can be found in the company's recent Form 4 filing.
InvestingPro Insights
Amidst the insider trading activity at Hubbell Inc, investors looking to understand the company's financial health can benefit from the latest metrics and insights. According to InvestingPro, Hubbell Inc is a company with a strong track record of dividend reliability, having raised its dividend for 16 consecutive years, and impressively maintaining dividend payments for 54 consecutive years. This indicates a commitment to returning value to shareholders and suggests financial stability.
The company's market capitalization stands at 21.51 billion USD, reflecting its substantial size within the industry. Additionally, Hubbell Inc is trading at a price-to-earnings (P/E) ratio of 29.66, which, when adjusted for the last twelve months as of Q1 2024, slightly decreases to 29.23. This P/E ratio is considered low relative to the company's near-term earnings growth, as indicated by a PEG ratio of 0.92, suggesting that the stock may be undervalued in terms of its growth potential.
InvestingPro Tips also highlight Hubbell Inc's solid financial footing, as the company's liquid assets exceed short term obligations, and its cash flows can sufficiently cover interest payments. These factors are crucial for investors considering the stability and risk associated with the company's financial obligations.
For those seeking further insights, there are additional InvestingPro Tips available, which can provide a deeper understanding of Hubbell Inc's financial position and market performance. Interested investors can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to these valuable tips.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.