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. Investors 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 a boost from Hubbell’s previous quarterly dividend of $1.22.

Hubbell has increased its dividend by an average of 7.3% per year over the last three years and has increased its dividend annually for the last 17 consecutive years. Hubbell has a payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.1 %

HUBB traded up $0.25 during mid-day trading on Wednesday, hitting $460.99. The stock had a trading volume of 24,700 shares, compared to its average volume of 442,912. The stock’s fifty day simple moving average is $443.30 and its 200-day simple moving average is $403.08. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90. Hubbell has a 1-year low of $293.91 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HUBB. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Morgan Stanley lifted their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $449.11.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.78% of the company’s stock.

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.