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 annualized dividend and a yield of 1.25%.

Hubbell has raised its dividend by an average of 7.7% per year over the last three years. Hubbell has a dividend payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. 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 Performance

NYSE HUBB 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. Hubbell has a fifty-two week low of $334.17 and a fifty-two 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. The business has a fifty day simple moving average of $440.67 and a 200-day simple moving average of $420.88. The firm 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 released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business posted $3.95 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts predict that Hubbell will post 16.48 EPS for the current year.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $471.50.

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.