Hubbell Incorporated (NYSE:HUBB) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 864,600 shares, a growth of 7.9% from the January 15th total of 801,600 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 229,500 shares, the days-to-cover ratio is presently 3.8 days.
HUBB traded down $1.98 during trading on Friday, hitting $147.54. The stock had a trading volume of 296,589 shares, compared to its average volume of 288,147. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.11 and a current ratio of 1.86. The firm has a market capitalization of $8.01 billion, a P/E ratio of 20.21, a PEG ratio of 1.93 and a beta of 1.54. The company’s 50-day moving average price is $147.11 and its 200 day moving average price is $139.44. Hubbell has a twelve month low of $113.58 and a twelve month high of $155.00.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.08. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Hubbell had a net margin of 8.72% and a return on equity of 23.55%. Hubbell’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 EPS. As a group, equities analysts expect that Hubbell will post 8.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 28th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $3.64 annualized dividend and a yield of 2.47%. Hubbell’s dividend payout ratio is currently 44.83%.
Several analysts recently commented on the stock. Wolfe Research downgraded shares of Hubbell from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 9th. ValuEngine downgraded shares of Hubbell from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Morgan Stanley upped their price target on shares of Hubbell from $152.00 to $157.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Hubbell presently has a consensus rating of “Buy” and a consensus target price of $152.33.
In related news, CEO David G. Nord sold 6,458 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $146.26, for a total value of $944,547.08. Following the completion of the sale, the chief executive officer now owns 160,602 shares in the company, valued at approximately $23,489,648.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO William R. Sperry sold 1,953 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $145.17, for a total transaction of $283,517.01. Following the completion of the sale, the chief financial officer now owns 78,683 shares of the company’s stock, valued at approximately $11,422,411.11. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC acquired a new position in Hubbell in the 4th quarter valued at $26,000. North Star Investment Management Corp. acquired a new position in Hubbell in the 4th quarter valued at $43,000. Capital Analysts LLC acquired a new position in Hubbell in the 4th quarter valued at $49,000. Northwestern Mutual Wealth Management Co. increased its stake in Hubbell by 25.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 428 shares of the industrial products company’s stock valued at $63,000 after buying an additional 86 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in shares of Hubbell by 127.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 602 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 337 shares during the period. 84.77% of the stock is currently owned by institutional investors.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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