Korea Investment CORP Invests $37.43 Million in Hubbell Inc $HUBB

Korea Investment CORP acquired a new stake in Hubbell Inc (NYSE:HUBB) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 71,543 shares of the industrial products company’s stock, valued at approximately $37,431,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Hubbell in the 2nd quarter worth $2,455,986,000. Bank of New York Mellon Corp purchased a new stake in Hubbell during the second quarter valued at about $783,142,000. Wellington Management Group LLP grew its stake in shares of Hubbell by 140.4% during the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock valued at $1,116,773,000 after buying an additional 1,468,701 shares during the last quarter. Deutsche Bank AG bought a new position in Hubbell during the 2nd quarter worth approximately $610,053,000. Finally, Boston Partners increased its stake in shares of Hubbell by 37.8% in the fourth quarter. Boston Partners now owns 1,015,118 shares of the industrial products company’s stock worth $452,675,000 after buying an additional 278,649 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

NYSE HUBB opened at $470.69 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50. The firm has a market capitalization of $24.87 billion, a P/E ratio of 27.87, a PEG ratio of 2.30 and a beta of 0.90. The company has a 50-day moving average price of $495.92 and a 200-day moving average price of $498.43.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $4.93 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s dividend payout ratio (DPR) is presently 33.63%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company upped their target price on Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a report on Friday, May 1st. UBS Group restated a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Stephens raised their price target on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.89.

Insider Activity at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total transaction of $283,652.32. Following the sale, the vice president owned 2,933 shares of the company’s stock, valued at approximately $1,520,936.48. This trade represents a 15.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by insiders.

Hubbell Profile

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.