Hubbell Incorporated (HUBB) To Go Ex-Dividend on November 29th

Hubbell Incorporated (NYSE:HUBB) declared a quarterly dividend on Friday, October 25th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 1.32 per share by the industrial products company on Monday, December 16th. This represents a $5.28 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22.

Hubbell has raised its dividend payment by an average of 7.3% per year 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. 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 Stock Up 0.1 %

Shares of HUBB traded up $0.25 during trading hours on Wednesday, hitting $460.99. 24,700 shares of the company were exchanged, compared to its average volume of 442,912. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market cap of $24.74 billion, a PE ratio of 33.18, a PEG ratio of 1.73 and a beta of 0.90. The firm’s 50 day moving average is $443.30 and its 200-day moving average is $403.08. Hubbell has a 52 week low of $293.91 and a 52 week high of $481.35.

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

Insider Transactions at Hubbell

In other 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 sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HUBB shares. Barclays increased their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a report on Tuesday. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday. Wells Fargo & Company increased their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five investment 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, Hubbell currently has an average rating of “Moderate Buy” and a consensus price target 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.