Korea Investment CORP Purchases New Stake in Hubbell Inc $HUBB

by · The Markets Daily

Korea Investment CORP bought a new stake in Hubbell Inc (NYSE:HUBB – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 71,543 shares of the industrial products company’s stock, valued at approximately $37,431,000. Korea Investment CORP owned 0.14% of Hubbell as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. boosted its holdings in shares of Hubbell by 165.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 33 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in shares of Hubbell by 83.3% during the 4th quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock worth $29,000 after buying an additional 30 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Hubbell during the 1st quarter worth $33,000. DV Equities LLC bought a new stake in shares of Hubbell during the 4th quarter worth $33,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Hubbell during the 3rd quarter worth $33,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HUBB. Barclays lifted their target price on Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Stephens lifted their price target on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.89.

Read Our Latest Research Report on HUBB

Hubbell Stock Performance

NYSE:HUBB opened at $470.69 on Friday. The stock’s 50-day moving average is $495.92 and its 200-day moving average is $498.43. Hubbell Inc has a 1-year low of $403.82 and a 1-year high of $565.50. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22. The stock has a market cap of $24.87 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90.

Hubbell (NYSE:HUBB – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.39 by $0.13. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company earned $4.93 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Equities research analysts anticipate that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. Hubbell’s dividend payout ratio is 33.63%.

Insiders Place Their Bets

In other news, VP Nero Jonathan M. Del sold 547 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total transaction of $283,652.32. Following the completion of the transaction, the vice president directly owned 2,933 shares in the company, valued at $1,520,936.48. The trade was a 15.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is owned by insiders.

About Hubbell

(Free Report)

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.

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