Hubbell Incorporated (NYSE:HUBB) Short Interest Update

Hubbell Incorporated (NYSE:HUBB) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,320,000 shares, a growth of 8.4% from the August 15th total of 2,140,000 shares. Based on an average daily trading volume, of 491,200 shares, the days-to-cover ratio is presently 4.7 days. Currently, 4.3% of the company’s stock are short sold.

Insider Buying and Selling at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Carlos M. Cardoso sold 450 shares of the 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 transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HUBB. CWM LLC boosted its holdings in shares of Hubbell by 2.2% in the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after purchasing an additional 28 shares during the period. Meeder Advisory Services Inc. increased its position in Hubbell by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 30 shares during the last quarter. Detalus Advisors LLC raised its stake in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 30 shares during the period. Savant Capital LLC lifted its holdings in shares of Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 31 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on HUBB. Barclays lowered their target price on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley started coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $404.88.

Hubbell Price Performance

Shares of NYSE:HUBB traded down $1.43 during trading on Wednesday, hitting $409.86. 427,272 shares of the company’s stock were exchanged, compared to its average volume of 454,390. The business’s 50-day simple moving average is $379.31 and its 200 day simple moving average is $388.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61. The company has a market cap of $22.00 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.44 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping 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 revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.07 EPS. As a group, equities analysts predict that Hubbell will post 16.45 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, August 30th. Hubbell’s payout ratio is 36.39%.

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.