Short Interest in Hubbell Incorporated (NYSE:HUBB) Grows By 27.3%

Hubbell Incorporated (NYSE:HUBB) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,230,000 shares, an increase of 27.3% from the March 31st total of 966,500 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average trading volume of 425,500 shares, the short-interest ratio is currently 2.9 days.

Hubbell Trading Down 4.5 %

Hubbell stock traded down $18.52 during trading hours on Tuesday, hitting $388.67. The company had a trading volume of 469,774 shares, compared to its average volume of 405,350. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The firm has a market cap of $20.84 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.48 and a beta of 0.94. The company has a 50-day moving average price of $396.93 and a two-hundred day moving average price of $343.79. Hubbell has a 1 year low of $248.37 and a 1 year high of $429.61.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $2.60 EPS. Hubbell’s revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts anticipate that Hubbell will post 16.43 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a $1.22 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.88 annualized dividend and a dividend yield of 1.26%. Hubbell’s dividend payout ratio is currently 34.73%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays lifted their target price on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company lifted their target price on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company. Finally, Mizuho upped their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $383.57.

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the sale, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the sale, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Nero Jonathan M. Del sold 1,098 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the sale, the vice president now directly owns 3,646 shares of the company’s stock, valued at approximately $1,286,090.04. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock worth $12,065,100 in the last three months. Insiders own 0.78% of the company’s stock.

Institutional Trading of Hubbell

A number of hedge funds have recently bought and sold shares of HUBB. EverSource Wealth Advisors LLC increased its holdings in shares of Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 74 shares in the last quarter. Lindbrook Capital LLC grew its stake in Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 51 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Hubbell during the fourth quarter worth about $33,000. Principal Securities Inc. purchased a new stake in Hubbell in the fourth quarter valued at approximately $40,000. Finally, Riverview Trust Co purchased a new position in Hubbell during the 1st quarter worth approximately $52,000. 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.