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

Hubbell Incorporated (NYSE:HUBB) announced a quarterly dividend on Friday, January 31st,RTT News reports. Investors of record on Friday, February 28th will be given 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 payment 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. Equities 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 Trading Down 0.9 %

Hubbell stock opened at $422.94 on Friday. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.93. Hubbell has a 1 year low of $334.17 and a 1 year high of $481.35. The firm’s 50 day moving average price is $439.29 and its two-hundred day moving average price is $421.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

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, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $3.95 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Hubbell will post 16.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Barclays boosted 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. Mizuho raised their price objective 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. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $471.50.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

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.