Hubbell Incorporated (NYSE:HUBB) Short Interest Update

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

Hubbell Price Performance

NYSE:HUBB traded up $1.17 during mid-day trading on Tuesday, reaching $458.40. 19,819 shares of the company were exchanged, compared to its average volume of 440,437. Hubbell has a 12 month low of $295.90 and a 12 month high of $481.35. The stock has a market cap of $24.60 billion, a PE ratio of 32.94, a PEG ratio of 1.71 and a beta of 0.91. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $446.29 and a 200 day moving average of $404.74.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share 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 quarter last year, the business posted $3.95 earnings per share. Hubbell’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

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

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.78% of the stock is owned by company insiders.

Institutional Trading of Hubbell

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUBB. Groupama Asset Managment lifted its stake in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares during the period. Prospera Private Wealth LLC bought a new stake in Hubbell in the third quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new position in Hubbell in the third quarter valued at about $41,000. Quarry LP bought a new position in Hubbell during the second quarter worth about $49,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Hubbell during the 3rd quarter worth about $58,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HUBB shares. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Barclays raised their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho lifted their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $449.11.

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.