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

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

Hubbell has increased its dividend payment by an average of 7.3% per year over the last three years and has raised its dividend every year for the last 16 years. Hubbell has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.1 %

Shares of NYSE HUBB traded down $0.38 during trading on Monday, reaching $407.15. The company had a trading volume of 540,747 shares, compared to its average volume of 406,637. The company's fifty day moving average price is $396.93 and its 200-day moving average price is $343.79. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61. The stock has a market cap of $21.83 billion, a P/E ratio of 28.98, a PEG ratio of 2.48 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating analysts' consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $2.60 EPS. The business's revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that Hubbell will post 16.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on 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 lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, February 2nd. Mizuho upped 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. Barclays upped their price target on Hubbell from $340.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research note on Monday, March 11th. They set a "hold" rating and a $427.00 price target on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $383.57.

Insider Transactions at Hubbell

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 value of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares of the company's stock, valued at $1,780,541.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO William R. Sperry sold 14,925 shares of the stock in a transaction that occurred 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 directly owns 37,848 shares of the company's stock, valued at $13,359,965.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now directly owns 4,899 shares of the company's stock, valued at $1,780,541.55. 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 over the last ninety days. 0.66% of the stock is currently owned by 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.