Hubbell Incorporated (NYSE:HUBB) Short Interest Update

Hubbell Incorporated (NYSE:HUBB) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,040,000 shares, a decrease of 11.3% from the October 15th total of 2,300,000 shares. Currently, 3.9% of the shares of the company are short sold. Based on an average daily trading volume, of 385,000 shares, the days-to-cover ratio is presently 5.3 days.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays upped their price target on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $450.00 price objective 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Price Performance

Shares of NYSE:HUBB traded down $1.30 during trading on Tuesday, hitting $443.63. 23,749 shares of the company’s stock were exchanged, compared to its average volume of 442,658. The business’s 50-day simple moving average is $435.08 and its 200 day simple moving average is $399.99. The company has a market cap of $23.81 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 1.63 and a beta of 0.90. Hubbell has a 52-week low of $293.91 and a 52-week high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm posted $3.95 EPS. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Hubbell will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.19%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is presently 35.16%.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. IFG Advisory LLC purchased a new position in Hubbell during the 2nd quarter valued at approximately $475,000. Acadian Asset Management LLC grew its holdings in shares of Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after purchasing an additional 1,252 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in Hubbell by 24.6% during the second quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,511,000 after purchasing an additional 1,359 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Hubbell by 2.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after purchasing an additional 2,822 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new position in shares of Hubbell in the 1st quarter worth $582,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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.