Short Interest in Hubbell Incorporated (NYSE:HUBB) Expands By 28.3%

Hubbell Incorporated (NYSE:HUBB - Get Free Report) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,040,000 shares, a growth of 28.3% from the January 31st total of 1,590,000 shares. Based on an average trading volume of 516,500 shares, the days-to-cover ratio is currently 3.9 days. Approximately 3.8% of the company's stock are sold short.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Hubbell

Several institutional investors have recently made changes to their positions in HUBB. Stephens Inc. AR boosted its position in shares of Hubbell by 19.7% during the 3rd quarter. Stephens Inc. AR now owns 1,663 shares of the industrial products company's stock worth $712,000 after purchasing an additional 274 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its position in shares of Hubbell by 9.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 817 shares of the industrial products company's stock worth $350,000 after purchasing an additional 69 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Hubbell by 5.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 12,917 shares of the industrial products company's stock worth $5,533,000 after purchasing an additional 640 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Hubbell by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,741 shares of the industrial products company's stock worth $4,332,000 after purchasing an additional 966 shares in the last quarter. Finally, BSW Wealth Partners purchased a new stake in shares of Hubbell during the 3rd quarter worth $210,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research firms have weighed in on HUBB. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Wells Fargo & Company cut their price objective on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and cut their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Barclays cut their price objective on shares of Hubbell from $475.00 to $422.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $464.88.

Hubbell Stock Performance

NYSE:HUBB traded up $8.77 during midday trading on Friday, reaching $355.05. The stock had a trading volume of 1,078,895 shares, compared to its average volume of 467,142. The firm has a fifty day simple moving average of $406.11 and a two-hundred day simple moving average of $422.79. Hubbell has a 12-month low of $337.97 and a 12-month high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The stock has a market cap of $19.05 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the firm posted $3.69 EPS. Hubbell's quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts expect that Hubbell will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.49%. Hubbell's payout ratio is currently 36.77%.

Hubbell announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

About Hubbell

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.