Hubbell Incorporated (HUBB) to Issue Quarterly Dividend of $1.22 on September 16th

Hubbell Incorporated (NYSE:HUBB) announced a quarterly dividend on Friday, July 26th, Wall Street Journal reports. Stockholders of record on Friday, August 30th will be paid a dividend of 1.22 per share by the industrial products company on Monday, September 16th. This represents a $4.88 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, August 30th.

Hubbell has a payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hubbell to earn $17.60 per share next year, which means the company should continue to be able to cover its $4.88 annual dividend with an expected future payout ratio of 27.7%.

Hubbell Stock Performance

HUBB traded down $1.51 during midday trading on Wednesday, reaching $386.46. The company had a trading volume of 104,363 shares, compared to its average volume of 456,314. The business has a 50-day moving average price of $374.18 and a two-hundred day moving average price of $385.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.81. Hubbell has a 12-month low of $248.37 and a 12-month high of $429.61. The stock has a market cap of $20.75 billion, a PE ratio of 28.93, a P/E/G ratio of 1.43 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating 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 business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $4.07 earnings per share. Hubbell’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Hubbell will post 16.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HUBB shares. JPMorgan Chase & Co. boosted their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays lowered their target price on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $402.57.

Insider Buying and Selling

In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gerben Bakker sold 15,677 shares of the company’s 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 directly owns 66,415 shares in the company, valued at $24,861,791.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

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.