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

Hubbell Incorporated (NYSE:HUBB) announced a quarterly dividend on Friday, October 25th,Wall Street Journal reports. Stockholders 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 dividend yield of 1.14%. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22.

Hubbell has increased its dividend 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% indicating that 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 Trading Up 0.7 %

Shares of NYSE:HUBB traded up $3.12 during mid-day trading on Wednesday, hitting $463.86. The stock had a trading volume of 10,728 shares, compared to its average volume of 442,900. Hubbell has a 12-month low of $293.91 and a 12-month high of $481.35. 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 $24.90 billion, a PE ratio of 33.18, a P/E/G ratio of 1.73 and a beta of 0.90. The company’s 50 day moving average is $443.30 and its 200-day moving average is $403.08.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business earned $3.95 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Hubbell will post 16.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Sanford C. Bernstein started coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a research report on Tuesday. Finally, StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $449.11.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is currently 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.