Hubbell Incorporated (NYSE:HUBB) Sees Large Increase in Short Interest

Hubbell Incorporated (NYSE:HUBB) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,320,000 shares, an increase of 6.9% from the September 15th total of 2,170,000 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average trading volume of 435,600 shares, the short-interest ratio is presently 5.3 days.

Hubbell Stock Performance

Hubbell stock opened at $457.51 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. Hubbell has a twelve month low of $248.37 and a twelve month high of $461.77. The company’s 50-day moving average price is $407.12 and its 200-day moving average price is $393.38. The company has a market cap of $24.56 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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 business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.07 earnings per share. On average, equities research analysts forecast that Hubbell will post 16.41 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays upped their price objective on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Stephens restated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Finally, Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $428.13.

Insider Activity

In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’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 sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nvwm LLC purchased a new stake in Hubbell in the 1st quarter worth about $25,000. Quarry LP purchased a new stake in shares of Hubbell in the second quarter worth approximately $49,000. Riverview Trust Co bought a new stake in shares of Hubbell during the 1st quarter worth approximately $52,000. Northwest Investment Counselors LLC bought a new stake in shares of Hubbell during the 1st quarter worth approximately $56,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Hubbell during the 2nd quarter valued at $62,000. Hedge funds and other 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.