Hubbell Incorporated (NYSE:HUBB) Short Interest Update

Hubbell Incorporated (NYSE:HUBB) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 2,170,000 shares, a drop of 6.5% from the August 31st total of 2,320,000 shares. Currently, 4.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 474,400 shares, the short-interest ratio is currently 4.6 days.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley began coverage on Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price on the stock. Finally, Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $404.88.

Hubbell Trading Down 0.2 %

Shares of HUBB stock opened at $427.29 on Wednesday. The company has a market cap of $22.94 billion, a P/E ratio of 31.94, a PEG ratio of 1.56 and a beta of 0.90. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $433.03. The stock has a 50 day simple moving average of $387.98 and a two-hundred day simple moving average of $390.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. Hubbell’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.07 EPS. Research analysts forecast that Hubbell will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.14%. Hubbell’s dividend payout ratio is presently 36.39%.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Hedge funds and other institutional investors have recently modified their holdings of the company. Nvwm LLC bought a new stake in Hubbell during the first quarter worth $25,000. Quarry LP bought a new position in shares of Hubbell during the second quarter valued at about $49,000. Riverview Trust Co purchased a new position in Hubbell during the first quarter worth about $52,000. Northwest Investment Counselors LLC bought a new stake in Hubbell in the 1st quarter worth about $56,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell in the 2nd quarter valued at about $62,000. Institutional investors own 88.16% of the company’s stock.

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.