Hubbell Incorporated (NYSE:HUBB) Sees Significant Decrease in Short Interest

Hubbell Incorporated (NYSE:HUBB - Get Free Report) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 2,170,000 shares, a decline of 6.5% from the August 31st total of 2,320,000 shares. Based on an average trading volume of 474,400 shares, the short-interest ratio is currently 4.6 days. Currently, 4.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a "hold" rating to a "buy" rating and raised their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley initiated coverage on shares of Hubbell in a report on Friday, September 6th. They set an "equal weight" rating and a $407.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $383.00 to $385.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price target on Hubbell from $397.00 to $400.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 31st. Finally, Barclays cut their price objective on Hubbell from $384.00 to $368.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $404.88.

Insiders Place Their Bets

In other news, Director Carlos M. Cardoso sold 450 shares of the company's stock in a transaction on Tuesday, August 6th. The stock was 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 of the company's stock, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now owns 1,670 shares in the company, valued at $608,781.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company's stock, valued at $24,861,791.10. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Institutional Trading of Hubbell

Several large investors have recently bought and sold shares of HUBB. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Hubbell by 10.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 9,502 shares of the industrial products company's stock worth $3,126,000 after purchasing an additional 872 shares during the last quarter. TD Asset Management Inc grew its holdings in Hubbell by 343.8% in the 4th quarter. TD Asset Management Inc now owns 43,785 shares of the industrial products company's stock valued at $14,402,000 after buying an additional 33,920 shares during the period. Focus Financial Network Inc. ADV acquired a new position in shares of Hubbell during the 4th quarter valued at about $636,000. Allianz Asset Management GmbH lifted its holdings in shares of Hubbell by 26.5% during the 4th quarter. Allianz Asset Management GmbH now owns 25,829 shares of the industrial products company's stock worth $8,496,000 after acquiring an additional 5,406 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Hubbell by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 24,518 shares of the industrial products company's stock worth $8,065,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Trading Down 0.0 %

Shares of NYSE HUBB traded down $0.13 during midday trading on Monday, reaching $428.35. 466,359 shares of the stock were exchanged, compared to its average volume of 452,259. 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 50 day simple moving average of $387.00 and a 200 day simple moving average of $389.86. Hubbell has a twelve month low of $248.37 and a twelve month high of $433.03. The stock has a market capitalization of $23.00 billion, a P/E ratio of 31.93, a PEG ratio of 1.56 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company posted $4.07 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts expect that Hubbell will post 16.45 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, August 30th. Hubbell's dividend payout ratio (DPR) is 36.39%.

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.