Short Interest in Hubbell Incorporated (NYSE:HUBB) Declines By 5.9%

Hubbell Incorporated (NYSE:HUBB) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,920,000 shares, a drop of 5.9% from the October 31st total of 2,040,000 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average daily volume of 410,600 shares, the short-interest ratio is presently 4.7 days.

Hubbell Stock Up 0.3 %

Shares of NYSE:HUBB traded up $1.17 during trading on Tuesday, hitting $458.40. 19,819 shares of the company were exchanged, compared to its average volume of 440,437. The stock has a market cap of $24.60 billion, a price-to-earnings ratio of 32.94, a P/E/G ratio of 1.71 and a beta of 0.91. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell has a fifty-two week low of $295.90 and a fifty-two week high of $481.35. The firm has a fifty day moving average price of $446.29 and a two-hundred day moving average price of $404.74.

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

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is 38.04%.

Wall Street Analyst Weigh In

HUBB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Mizuho upped their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays lifted their price target on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $449.11.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.78% of the company’s stock.

Institutional Trading of Hubbell

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in Hubbell by 6.5% in the 1st quarter. Janus Henderson Group PLC now owns 6,586 shares of the industrial products company’s stock valued at $2,731,000 after buying an additional 403 shares during the last quarter. Atria Investments Inc acquired a new position in shares of Hubbell in the first quarter valued at approximately $1,190,000. Cetera Investment Advisers increased its stake in shares of Hubbell by 280.6% during the first quarter. Cetera Investment Advisers now owns 5,991 shares of the industrial products company’s stock worth $2,486,000 after purchasing an additional 4,417 shares during the period. Cetera Advisors LLC acquired a new stake in Hubbell during the 1st quarter worth approximately $582,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Hubbell by 332.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock valued at $140,000 after buying an additional 259 shares in the last quarter. 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.