Hubbell Incorporated (NYSE:HUBB) declared a quarterly dividend on Monday, February 1st, Wall Street Journal reports. Shareholders of record on Friday, February 26th will be given a dividend of 0.98 per share by the industrial products company on Monday, March 15th. This represents a $3.92 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, February 25th.

Hubbell has raised its dividend payment by 29.3% over the last three years and has increased its dividend every year for the last 5 years. Hubbell has a payout ratio of 46.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hubbell to earn $7.94 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 49.4%.

HUBB stock opened at $178.19 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.33 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $9.66 billion, a PE ratio of 26.20, a P/E/G ratio of 2.71 and a beta of 1.19. Hubbell has a 12-month low of $85.62 and a 12-month high of $178.58. The business’s fifty day moving average price is $164.16 and its 200 day moving average price is $153.13.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Monday, February 1st. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.01). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Hubbell had a net margin of 8.75% and a return on equity of 21.38%. Hubbell’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.91 EPS. Research analysts predict that Hubbell will post 7.57 EPS for the current fiscal year.

In related news, VP Stephen M. Mais sold 1,080 shares of the company’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $166.63, for a total value of $179,960.40. Following the completion of the sale, the vice president now directly owns 14,981 shares of the company’s stock, valued at approximately $2,496,284.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David G. Nord sold 15,000 shares of the company’s stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $162.13, for a total value of $2,431,950.00. Following the completion of the sale, the director now directly owns 101,635 shares of the company’s stock, valued at $16,478,082.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,296 shares of company stock valued at $3,138,498. Insiders own 1.90% of the company’s stock.

Several research firms recently issued reports on HUBB. Stephens boosted their price objective on Hubbell from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 27th. Zacks Investment Research downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley upped their price target on Hubbell from $178.00 to $180.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $164.00.

About Hubbell

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. The company operates through two segments, Electrical Solution and Utility Solution. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.

See Also: Outstanding Shares

Dividend History for Hubbell (NYSE:HUBB)

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