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. Based on an average daily volume of 425,500 shares, the days-to-cover ratio is currently 2.9 days. Approximately 2.3% of the company’s stock are short sold.

Hubbell Stock Performance

NYSE HUBB opened at $407.53 on Friday. The stock has a market cap of $21.86 billion, a PE ratio of 29.01, a P/E/G ratio of 2.48 and a beta of 0.94. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Hubbell has a twelve month low of $248.37 and a twelve month high of $429.61. The stock has a fifty day simple moving average of $395.96 and a 200-day simple moving average of $342.87.

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

Insiders Place Their Bets

In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction dated 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 directly owns 9,355 shares in the company, valued at $3,297,731.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the sale, the vice president now owns 9,355 shares in the company, valued at $3,297,731.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. 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. 0.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently bought and sold shares of HUBB. EverSource Wealth Advisors LLC boosted its holdings in Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 74 shares during the period. Lindbrook Capital LLC boosted its holdings in Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 51 shares during the period. Baillie Gifford & Co. purchased a new position in Hubbell during the 4th quarter valued at about $33,000. Principal Securities Inc. acquired a new stake in Hubbell in the 4th quarter valued at about $40,000. Finally, Riverview Trust Co acquired a new stake in Hubbell in the 1st quarter valued at about $52,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Mizuho upped their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays increased their price objective on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Hubbell has an average rating of “Moderate Buy” and an average price target of $383.57.

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.