Hubbell Incorporated (NYSE: HUBB) declares quarterly dividend of $ 1.05

Hubbell Incorporated (NYSE: HUBB) announced a quarterly dividend on Friday, October 22, Zacks reports. Shareholders of record on Tuesday, November 30 will receive a dividend of 1.05 per share from the industrials company on Wednesday, December 15. This represents an annualized dividend of $ 4.20 and a return of 2.06%. The ex-dividend date of this dividend is Monday, November 29. This is a positive change from Hubbell’s previous quarterly dividend of $ 0.98.

Hubbell has increased its dividend by 29.3% over the past three years and has increased its dividend each year for the past 5 years. Hubbell has a payout ratio of 45.4%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect Hubbell to earn $ 9.27 per share next year, which means the company should continue to be able to cover its annual dividend of $ 4.20 with an expected future payout rate of 45.3%.

HUBB opened at $ 203.80 on Friday. The stock has a market cap of $ 11.09 billion, a PE ratio of 30.79, a PEG ratio of 2.47 and a beta of 1.24. The company has a quick ratio of 1.09, a current ratio of 1.77, and a debt ratio of 0.66. The company has a 50-day moving average of $ 194.37 and a 200-day moving average of $ 193.54. Hubbell has a 52 week low of $ 149.07 and a 52 week high of $ 212.54.

Hubbell (NYSE: HUBB) last released its results on Tuesday, October 26. The industrials company reported EPS of $ 2.24 for the quarter, missing Zacks’ consensus estimate of $ 2.29 by $ 0.05. The company posted revenue of $ 1.21 billion in the quarter, against analysts’ expectations of $ 1.24 billion. Hubbell had a net margin of 8.03% and a return on equity of 20.80%. The company’s revenue for the quarter increased 9.5% from the same quarter last year. In the same quarter of the previous year, the company made EPS of $ 2.30. Equity analysts predict that Hubbell will post 8.43 EPS for the current year.

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A number of research companies have recently commented on HUBB. Morgan Stanley lowered its target price on Hubbell from $ 211.00 to $ 209.00 and set an “equal weight” rating for the company in a research note on Thursday, October 7. Zacks Investment Research downgraded Hubbell from a “hold” rating to a “sell” rating in a research report released Thursday, October 28. Finally, Wells Fargo & Company provided coverage on Hubbell in a research report on Thursday, October 7. They set an “equal weight” rating and a price target of $ 192.00 for the company.

A hedge fund recently bought a new stake in Hubbell shares. Jane Street Group LLC acquired a new stake in shares of Hubbell Incorporated (NYSE: HUBB) in the third quarter, according to the company in its latest disclosure to the SEC. The company acquired 2,727 shares of the industrial products company, valued at approximately $ 493,000. 85.23% of the shares are held by institutional investors and hedge funds.

About Hubbell

Hubbell, Inc is engaged in the design, manufacture and sale of electrical and electronic products for non-residential and residential construction, industrial applications and utilities. It operates through the following segments: Electrical and utility solutions. The Electricity segment manufactures and sells electrical and wiring, lighting fixtures and controls for indoor and outdoor applications, as well as specialty lighting and communications products.

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Dividend history for Hubbell (NYSE: HUBB)

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