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

Hubbell Incorporated (NYSE:HUBB) declared 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 increased its dividend payment 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 Down 0.9 %

Shares of NYSE:HUBB opened at $422.94 on Friday. The company has a market capitalization 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. The company has a 50 day moving average of $439.29 and a two-hundred day moving average of $421.26. Hubbell has a 52-week low of $334.17 and a 52-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.

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. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.95 EPS. As a group, analysts forecast that Hubbell will post 16.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Mizuho lifted their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company cut their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Hubbell currently has a consensus rating of “Hold” and a consensus target price of $471.50.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.