HUBB

TD Cowen Initiates Coverage of Hubbell (HUBB) with Outperform Recommendation

Fintel reports that on December 8, 2023, TD Cowen initiated coverage of Hubbell (NYSE:HUBB) with a Outperform recommendation.

Analyst Price Forecast Suggests 9.91% Upside

As of November 27, 2023, the average one-year price target for Hubbell is 336.60. The forecasts range from a low of 277.75 to a high of $393.75. The average price target represents an increase of 9.91% from its latest reported closing price of 306.25.

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

The projected annual revenue for Hubbell is 5,288MM, an increase of 0.79%. The projected annual non-GAAP EPS is 11.33.

Hubbell Declares $1.22 Dividend

On October 27, 2023 the company declared a regular quarterly dividend of $1.22 per share ($4.88 annualized). Shareholders of record as of November 30, 2023 will receive the payment on December 15, 2023. Previously, the company paid $1.12 per share.

At the current share price of $306.25 / share, the stock's dividend yield is 1.59%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.28%, the lowest has been 1.34%, and the highest has been 4.20%. The standard deviation of yields is 0.49 (n=234).

The current dividend yield is 1.40 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.35. 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 0.24%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1363 funds or institutions reporting positions in Hubbell. This is an increase of 73 owner(s) or 5.66% in the last quarter. Average portfolio weight of all funds dedicated to HUBB is 0.32%, a decrease of 0.59%. Total shares owned by institutions increased in the last three months by 0.46% to 54,856K shares. HUBB / Hubbell Inc. Put/Call Ratios The put/call ratio of HUBB is 0.73, indicating a bullish outlook.

What are Other Shareholders Doing?

HUBB / Hubbell Inc. Shares Held by Institutions

Price T Rowe Associates holds 2,654K shares representing 4.95% ownership of the company. In it's prior filing, the firm reported owning 4,408K shares, representing a decrease of 66.10%. The firm decreased its portfolio allocation in HUBB by 40.15% over the last quarter.

Jpmorgan Chase holds 2,112K shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 2,744K shares, representing a decrease of 29.97%. The firm decreased its portfolio allocation in HUBB by 90.53% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 1,676K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 1,626K shares, representing an increase of 3.02%. The firm decreased its portfolio allocation in HUBB by 4.48% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,674K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 1,672K shares, representing an increase of 0.12%. The firm decreased its portfolio allocation in HUBB by 1.77% over the last quarter.

Bank of New York Mellon holds 1,469K shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 1,500K shares, representing a decrease of 2.08%. The firm decreased its portfolio allocation in HUBB by 3.05% 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.

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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.

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