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

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 dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, May 31st.

Hubbell has raised its dividend by an average of 7.3% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Hubbell has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

HUBB stock traded down $0.34 during midday trading on Monday, reaching $407.19. 540,646 shares of the company were exchanged, 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 firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.48 and a beta of 0.94. The business 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 released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $2.60 earnings per share. Equities research analysts forecast that Hubbell will post 16.43 EPS for the current year.

Insider Transactions at Hubbell

In other news, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the transaction, the chief financial officer now owns 37,848 shares in the company, valued at $13,359,965.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William R. Sperry sold 14,925 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the completion of the sale, the chief financial officer now owns 37,848 shares in the company, valued at approximately $13,359,965.52. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $12,065,100 in the last three months. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.