Hubbell said on January 27, 2023 that its board of directors declared a regular quarterly dividend of $1.12 per share ($4.48 annualized). Shareholders of record as of February 27, 2023 will receive the payment on March 15, 2023. Previously, the company paid $1.05 per share.
At the current share price of $228.91 / share, the stock's dividend yield is 1.96%. Looking back five years and taking a sample every week, the average dividend yield has been 2.47%, the lowest has been 1.76%, and the highest has been 4.20%. The standard deviation of yields is 0.40 (n=235).
The current dividend yield is 1.26 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.47. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.23%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 5.66% Upside
As of January 26, 2023, the average one-year price target for Hubbell is $241.87. The forecasts range from a low of $202.00 to a high of $288.75. The average price target represents an increase of 5.66% from its latest reported closing price of $228.91.
The projected annual revenue for Hubbell is $5,288MM, an increase of 6.87%. The projected annual EPS is $11.33, an increase of 19.39%.
Fund Sentiment
There are 1111 funds or institutions reporting positions in Hubbell. This is an increase of 104 owner(s) or 10.33%.
Average portfolio weight of all funds dedicated to US:HUBB is 0.3664%, an increase of 10.2446%. Total shares owned by institutions increased in the last three months by 2.17% to 60,811K shares.
What are large shareholders doing?
Price T Rowe Associates holds 4,870,982 shares representing 9.07% ownership of the company. In it's prior filing, the firm reported owning 2,875,827 shares, representing an increase of 40.96%. The firm increased its portfolio allocation in HUBB by 174.25% over the last quarter.
Bank of New York Mellon holds 3,266,995 shares representing 6.08% ownership of the company. In it's prior filing, the firm reported owning 3,767,842 shares, representing a decrease of 15.33%. The firm decreased its portfolio allocation in HUBB by 48.54% over the last quarter.
Jpmorgan Chase & holds 2,280,474 shares representing 4.25% ownership of the company. In it's prior filing, the firm reported owning 1,476,109 shares, representing an increase of 35.27%. The firm increased its portfolio allocation in HUBB by 98.87% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,601,026 shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 1,579,959 shares, representing an increase of 1.32%. The firm increased its portfolio allocation in HUBB by 31.90% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,568,585 shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 1,539,946 shares, representing an increase of 1.83%. The firm increased its portfolio allocation in HUBB by 27.83% over the last quarter.
Hubbell Background Information
(This description is provided by the company.)
Hubbell Incorporated is an international manufacturer of high quality, reliable electrical and utility solutions for a broad range of customer and end market applications. With 2020 revenues of $4.2 billion, Hubbell Incorporated operates manufacturing facilities in the United States and around the world. The corporate headquarters is located in Shelton, CT.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
