Hubbell Incorporated (NYSE:HUBB) Short Interest Up 6.9% in September

Hubbell Incorporated (NYSE:HUBB) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 2,320,000 shares, a growth of 6.9% from the September 15th total of 2,170,000 shares. Approximately 4.3% of the company’s shares are short sold. Based on an average daily volume of 435,600 shares, the short-interest ratio is presently 5.3 days.

Analyst Ratings Changes

Several research firms recently weighed in on HUBB. Stephens restated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Wells Fargo & Company boosted their target price on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley initiated coverage on shares of Hubbell in a research note on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target for the company. Barclays boosted their price objective on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus target price of $428.13.

Hubbell Trading Up 0.8 %

Shares of NYSE HUBB opened at $457.51 on Friday. The firm’s 50 day moving average price is $407.12 and its 200-day moving average price is $393.38. Hubbell has a 52-week low of $248.37 and a 52-week high of $461.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The company has a market cap of $24.56 billion, a PE ratio of 34.12, a P/E/G ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $4.07 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that Hubbell will post 16.41 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio is currently 36.39%.

Insider Buying and Selling at Hubbell

In other news, 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 value of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HUBB. Nordea Investment Management AB grew its position in Hubbell by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after purchasing an additional 6,275 shares during the period. IFG Advisory LLC bought a new position in Hubbell in the second quarter valued at about $475,000. Vaughan Nelson Investment Management L.P. boosted its position in Hubbell by 81.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock worth $22,565,000 after purchasing an additional 24,321 shares during the last quarter. New Mexico Educational Retirement Board grew its stake in shares of Hubbell by 304.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock valued at $4,685,000 after purchasing an additional 8,497 shares during the period. Finally, Sustainable Insight Capital Management LLC purchased a new stake in shares of Hubbell during the 1st quarter valued at about $1,868,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

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.