Hubbell (HUBB) Declares $1.12 Dividend

Hubbell said on April 21, 2023 that its board of directors declared a regular quarterly dividend of $1.12 per share ($4.48 annualized). Previously, the company paid $1.12 per share.

Shares must be purchased before the ex-div date of May 30, 2023 to qualify for the dividend. Shareholders of record as of May 31, 2023 will receive the payment on June 15, 2023.

At the current share price of $232.39 / share, the stock's dividend yield is 1.93%. Looking back five years and taking a sample every week, the average dividend yield has been 2.44%, the lowest has been 1.76%, and the highest has been 4.20%. The standard deviation of yields is 0.42 (n=235).

The current dividend yield is 1.21 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.

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What is the Fund Sentiment?

There are 1230 funds or institutions reporting positions in Hubbell. This is an increase of 142 owner(s) or 13.05% in the last quarter. Average portfolio weight of all funds dedicated to HUBB is 0.28%, a decrease of 25.14%. Total shares owned by institutions decreased in the last three months by 5.71% to 57,317K shares. The put/call ratio of HUBB is 0.52, indicating a bullish outlook.

Analyst Price Forecast Suggests 6.22% Upside

As of April 25, 2023, the average one-year price target for Hubbell is 246.84. The forecasts range from a low of 217.15 to a high of $288.75. The average price target represents an increase of 6.22% from its latest reported closing price of 232.39.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Hubbell is 5,288MM, an increase of 6.87%. The projected annual non-GAAP EPS is 11.33.

What are Other Shareholders Doing?

Price T Rowe Associates holds 3,518K shares representing 6.57% ownership of the company. In it's prior filing, the firm reported owning 4,871K shares, representing a decrease of 38.45%. The firm decreased its portfolio allocation in HUBB by 25.36% over the last quarter.

Jpmorgan Chase holds 2,582K shares representing 4.82% ownership of the company. In it's prior filing, the firm reported owning 2,280K shares, representing an increase of 11.69%. The firm increased its portfolio allocation in HUBB by 9.40% over the last quarter.

Bank of New York Mellon holds 2,097K shares representing 3.91% ownership of the company. In it's prior filing, the firm reported owning 3,267K shares, representing a decrease of 55.78%. The firm decreased its portfolio allocation in HUBB by 36.45% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 1,659K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 1,569K shares, representing an increase of 5.42%. The firm decreased its portfolio allocation in HUBB by 2.88% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,632K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 1,601K shares, representing an increase of 1.89%. The firm decreased its portfolio allocation in HUBB by 0.94% 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.