Hubbell Incorporated (NYSE:HUBB) Declares Dividend Increase – $1.32 Per Share

Hubbell Incorporated (NYSE:HUBB) declared a quarterly dividend on Friday, October 25th,Wall Street Journal reports. Stockholders 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 dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22.

Hubbell has raised its dividend payment by an average of 7.3% annually over the last three years and has increased its dividend every year for the last 17 years. Hubbell has a dividend payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Down 0.4 %

HUBB opened at $458.81 on Thursday. The business’s 50 day moving average is $444.28 and its two-hundred day moving average is $403.47. Hubbell has a 52 week low of $293.91 and a 52 week high of $481.35. The firm has a market cap of $24.62 billion, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $3.95 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Hubbell will post 16.47 EPS for the current year.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction 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 completion of the transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HUBB shares. Mizuho raised their price objective on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Stephens reaffirmed an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Morgan Stanley lifted their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein started coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $449.11.

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.