Hubbell Incorporated (NYSE:HUBB) Short Interest Up 27.3% in April

Hubbell Incorporated (NYSE:HUBB) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 1,230,000 shares, a growth of 27.3% from the March 31st total of 966,500 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 425,500 shares, the days-to-cover ratio is currently 2.9 days.

Hubbell Stock Down 0.1 %

Shares of NYSE HUBB opened at $407.15 on Tuesday. Hubbell has a 1 year low of $248.37 and a 1 year high of $429.61. The firm’s 50-day moving average is $396.93 and its 200-day moving average is $343.79. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $21.84 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 2.48 and a beta of 0.94.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 EPS. Equities analysts expect that Hubbell will post 16.43 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a dividend of $1.22 per share. The ex-dividend date is Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.20%. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HUBB shares. Wells Fargo & Company lifted their price target on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Barclays lifted their target price on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Mizuho boosted their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $383.57.

Insider Activity at Hubbell

In other news, VP Katherine Anne Lane sold 1,468 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the completion of the transaction, the vice president now owns 9,355 shares in the company, valued at approximately $3,297,731.05. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Mark Eugene Mikes sold 1,837 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total value of $657,939.92. Following the sale, the insider now owns 5,296 shares of the company’s stock, valued at approximately $1,896,815.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Katherine Anne Lane sold 1,468 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the transaction, the vice president now owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,125 shares of company stock worth $12,065,100. 0.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

Several hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased its stake in shares of Hubbell by 273.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,197 shares of the industrial products company’s stock valued at $689,000 after acquiring an additional 1,609 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Hubbell by 3.3% in the third quarter. Asset Management One Co. Ltd. now owns 30,037 shares of the industrial products company’s stock valued at $9,414,000 after purchasing an additional 954 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Hubbell by 2.1% in the third quarter. Handelsbanken Fonder AB now owns 9,623 shares of the industrial products company’s stock worth $3,016,000 after purchasing an additional 200 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Hubbell by 6.9% during the third quarter. Commonwealth Equity Services LLC now owns 11,056 shares of the industrial products company’s stock worth $3,465,000 after purchasing an additional 713 shares in the last quarter. Finally, Suncoast Equity Management boosted its position in shares of Hubbell by 58.6% during the third quarter. Suncoast Equity Management now owns 2,228 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 823 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.