Hubbell Incorporated (NYSE:HUBB) Announces Quarterly Dividend of $1.32

Hubbell Incorporated (NYSE:HUBB) declared a quarterly dividend on Friday, October 25th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 1.32 per share by the industrial products company on Monday, December 16th. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22.

Hubbell has raised its dividend by an average of 7.3% annually over the last three years and has increased its dividend every year for the last 17 years. Hubbell has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hubbell to earn $17.72 per share next year, which means the company should continue to be able to cover its $5.28 annual dividend with an expected future payout ratio of 29.8%.

Hubbell Stock Performance

Shares of HUBB stock opened at $460.74 on Wednesday. The firm has a market capitalization of $24.73 billion, a PE ratio of 33.18, a P/E/G ratio of 1.73 and a beta of 0.90. The company has a 50 day moving average price of $443.30 and a 200-day moving average price of $403.08. Hubbell has a 52 week low of $293.91 and a 52 week high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.95 EPS. As a group, equities research analysts expect that Hubbell will post 16.47 earnings per share for the current year.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on HUBB. Barclays upped their price objective on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday. Wells Fargo & Company lifted their price objective on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Mizuho lifted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus price target of $449.11.

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.