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

Hubbell Incorporated (NYSE:HUBB) announced a quarterly dividend on Friday, January 31st,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 1.32 per share by the industrial products company on Monday, March 17th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.25%.

Hubbell has raised its dividend by an average of 7.7% annually over the last three years. Hubbell has a dividend payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hubbell to earn $17.71 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 Down 0.9 %

Shares of Hubbell stock traded down $3.63 during trading hours on Friday, hitting $422.94. The company had a trading volume of 497,516 shares, compared to its average volume of 547,688. The company’s 50-day moving average is $440.67 and its two-hundred day moving average is $420.88. Hubbell has a twelve month low of $334.17 and a twelve month 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. The company has a market cap of $22.70 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.93.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.95 EPS. Analysts anticipate that Hubbell will post 16.48 earnings per share for the current fiscal year.

Insider Activity

In other 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 completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the subject of several recent analyst reports. Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Barclays increased their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Hubbell presently has an average rating of “Hold” and an average target price of $471.50.

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.