Hubbell Incorporated (NYSE:HUBB) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 864,600 shares, an increase of 7.9% from the January 15th total of 801,600 shares. Based on an average daily trading volume, of 229,500 shares, the short-interest ratio is currently 3.8 days. Currently, 1.6% of the shares of the stock are sold short.
Shares of HUBB traded down $1.98 during trading on Friday, reaching $147.54. 296,589 shares of the company traded hands, compared to its average volume of 288,147. Hubbell has a twelve month low of $113.58 and a twelve month high of $155.00. The stock has a market cap of $8.01 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.54. The stock has a 50-day simple moving average of $147.11 and a 200-day simple moving average of $139.44. The company has a quick ratio of 1.11, a current ratio of 1.86 and a debt-to-equity ratio of 0.77.
Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.08. Hubbell had a net margin of 8.72% and a return on equity of 23.55%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business earned $1.72 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Hubbell will post 8.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 28th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Thursday, February 27th. Hubbell’s dividend payout ratio is presently 44.83%.
In related news, CFO William R. Sperry sold 1,953 shares of the firm’s stock in a transaction dated 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 directly owns 78,683 shares in the company, valued at $11,422,411.11. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David G. Nord sold 6,458 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $146.26, for a total transaction of $944,547.08. Following the sale, the chief executive officer now owns 160,602 shares of the company’s stock, valued at $23,489,648.52. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in HUBB. BlackRock Inc. grew its holdings in shares of Hubbell by 6.8% in the second quarter. BlackRock Inc. now owns 6,341,754 shares of the industrial products company’s stock valued at $826,962,000 after purchasing an additional 401,473 shares in the last quarter. FMR LLC grew its holdings in shares of Hubbell by 12.6% in the fourth quarter. FMR LLC now owns 1,178,804 shares of the industrial products company’s stock valued at $174,250,000 after purchasing an additional 131,714 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Hubbell by 10.4% in the third quarter. Voya Investment Management LLC now owns 680,474 shares of the industrial products company’s stock valued at $89,415,000 after purchasing an additional 64,277 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of Hubbell by 0.7% in the fourth quarter. Boston Trust Walden Corp now owns 554,627 shares of the industrial products company’s stock valued at $81,985,000 after purchasing an additional 3,981 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Hubbell by 4.3% in the fourth quarter. Boston Partners now owns 553,323 shares of the industrial products company’s stock valued at $81,794,000 after purchasing an additional 22,788 shares in the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Hubbell from $152.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. ValuEngine cut shares of Hubbell from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research report on Thursday, February 6th. Finally, Wolfe Research cut shares of Hubbell from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Hubbell has an average rating of “Buy” and a consensus price target of $152.33.
Hubbell Company Profile
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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