Hubbell Inc (NYSE:HUBB) Increases Dividend to $1.42 Per Share

Hubbell Inc (NYSE:HUBB) announced a quarterly dividend on Thursday, October 23rd. Stockholders of record on Friday, November 28th will be paid a dividend of 1.42 per share by the industrial products company on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 28th. This is a 7.6% increase from Hubbell’s previous quarterly dividend of $1.32.

Hubbell has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 17 consecutive years. Hubbell has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hubbell to earn $18.96 per share next year, which means the company should continue to be able to cover its $5.68 annual dividend with an expected future payout ratio of 30.0%.

Hubbell Price Performance

HUBB opened at $430.01 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.36. The stock has a market capitalization of $22.85 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. The stock’s 50 day moving average price is $435.07 and its 200-day moving average price is $422.26. Hubbell has a 52-week low of $299.42 and a 52-week high of $484.26.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities research analysts predict that Hubbell will post 17.63 EPS for the current year.

Insider Activity at Hubbell

In other Hubbell news, Director John F. Malloy bought 435 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was acquired at an average price of $429.24 per share, with a total value of $186,719.40. Following the completion of the purchase, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the transaction, the insider owned 4,785 shares of the company’s stock, valued at $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HUBB. Nuveen LLC purchased a new position in Hubbell during the first quarter valued at $213,283,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Hubbell by 181.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after acquiring an additional 628,886 shares during the last quarter. Boston Partners bought a new position in shares of Hubbell during the second quarter valued at $230,691,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Hubbell in the 3rd quarter worth about $162,309,000. Finally, Mirova US LLC purchased a new position in shares of Hubbell in the 2nd quarter worth about $139,386,000. Institutional investors own 88.16% of the company’s stock.

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.