Hubbell Incorporated (NYSE:HUBB) Short Interest Update

Hubbell Incorporated (NYSE:HUBB) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 782,100 shares, a decline of 9.9% from the September 30th total of 867,600 shares. Based on an average daily trading volume, of 261,000 shares, the short-interest ratio is presently 3.0 days. Approximately 1.5% of the shares of the company are sold short.

Shares of Hubbell stock traded down $0.96 during trading on Monday, reaching $147.75. The company’s stock had a trading volume of 147,844 shares, compared to its average volume of 309,265. The company has a quick ratio of 1.33, a current ratio of 2.09 and a debt-to-equity ratio of 0.89. Hubbell has a 12-month low of $91.88 and a 12-month high of $149.31. The company has a market capitalization of $8.03 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.98 and a beta of 1.50. The business has a 50 day moving average price of $138.16 and a 200-day moving average price of $129.40.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.07. Hubbell had a return on equity of 23.47% and a net margin of 8.34%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the business earned $2.34 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts predict that Hubbell will post 8.06 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Hubbell’s previous quarterly dividend of $0.84. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.46%. Hubbell’s payout ratio is 46.09%.

A number of research firms have recently issued reports on HUBB. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Hubbell from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. G.Research reissued a “buy” rating on shares of Hubbell in a report on Wednesday, August 21st. Gabelli began coverage on Hubbell in a report on Wednesday, August 21st. They issued a “buy” rating and a $160.00 target price on the stock. Finally, Morgan Stanley set a $138.00 target price on Hubbell and gave the company a “hold” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $146.67.

In other news, VP Joseph Anthony Capozzoli sold 1,243 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $142.39, for a total value of $176,990.77. Following the transaction, the vice president now owns 10,812 shares of the company’s stock, valued at $1,539,520.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rodd Richard Ruland sold 3,594 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.96, for a total value of $517,392.24. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of HUBB. Cullen Frost Bankers Inc. boosted its stake in shares of Hubbell by 1,950.0% in the second quarter. Cullen Frost Bankers Inc. now owns 205 shares of the industrial products company’s stock valued at $27,000 after buying an additional 195 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Hubbell in the second quarter valued at approximately $27,000. Advisory Services Network LLC boosted its stake in shares of Hubbell by 57.1% in the second quarter. Advisory Services Network LLC now owns 322 shares of the industrial products company’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Hubbell by 125.0% in the second quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock valued at $45,000 after buying an additional 200 shares in the last quarter. Finally, River & Mercantile Asset Management LLP purchased a new stake in shares of Hubbell in the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 84.13% of the company’s stock.

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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