Hubbell Incorporated (NYSE:HUBB) Short Interest Update

Hubbell Incorporated (NYSE:HUBB) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,040,000 shares, an increase of 28.3% from the January 31st total of 1,590,000 shares. Based on an average daily volume of 516,500 shares, the short-interest ratio is presently 3.9 days. Approximately 3.8% of the company’s shares are sold short.

Hubbell Price Performance

NYSE:HUBB traded down $11.32 during trading hours on Thursday, reaching $342.53. 250,920 shares of the company were exchanged, compared to its average volume of 461,884. The company has a market capitalization of $18.38 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The business has a 50 day moving average of $409.16 and a 200 day moving average of $423.47. Hubbell has a 1-year low of $339.45 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the business earned $3.69 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts forecast that Hubbell will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is currently 36.77%.

Analyst Ratings Changes

Several research firms recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Wells Fargo & Company lowered their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays reduced their target price on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a report on Monday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $464.88.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Hubbell

Hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV lifted its holdings in shares of Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares during the period. Stonebridge Financial Group LLC acquired a new position in Hubbell during the 4th quarter worth about $30,000. Prospera Private Wealth LLC bought a new stake in shares of Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc increased its stake in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of Hubbell during the third quarter worth about $41,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.