Hubbell Incorporated Declares Quarterly Dividend of $1.22 (NYSE:HUBB)

Hubbell Incorporated (NYSE:HUBB) announced a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be paid a dividend of 1.22 per share by the industrial products company on Monday, June 17th. This represents a $4.88 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, May 31st.

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 16 years. Hubbell has a payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hubbell to earn $17.66 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 27.6%.

Hubbell Stock Down 0.1 %

Hubbell stock traded down $0.34 during mid-day trading on Monday, reaching $407.19. The stock had a trading volume of 540,646 shares, compared to its average volume of 406,636. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The company has a market capitalization of $21.84 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.48 and a beta of 0.94. The company has a 50-day moving average price of $395.96 and a two-hundred day moving average price of $343.10. Hubbell has a one year low of $248.37 and a one year high of $429.61.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business earned $2.60 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts expect that Hubbell will post 16.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HUBB shares. Barclays boosted their price objective on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company raised their price objective on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho increased their price objective on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $383.57.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares in the company, valued at approximately $1,780,541.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the sale, the chief executive officer now owns 51,783 shares in the company, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $12,065,100 in the last three months. 0.66% of the stock is owned by company 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.