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

Hubbell Incorporated (NYSE:HUBB) declared a quarterly dividend on Friday, July 26th, Wall Street Journal reports. Shareholders of record on Friday, August 30th will be paid a dividend of 1.22 per share by the industrial products company on Monday, September 16th. This represents a $4.88 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, August 30th.

Hubbell has a dividend payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hubbell to earn $17.60 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 27.7%.

Hubbell Trading Up 0.3 %

Hubbell stock opened at $389.07 on Thursday. The firm has a 50-day moving average price of $374.21 and a two-hundred day moving average price of $385.26. The firm has a market capitalization of $20.89 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.43 and a beta of 0.90. The company has a quick ratio of 1.03, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company earned $4.07 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts expect that Hubbell will post 16.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays decreased their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $402.57.

Insider Buying and Selling

In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.