Korea Investment CORP Sells 7,684 Shares of Hubbell Inc $HUBB

Korea Investment CORP reduced its position in Hubbell Inc (NYSE:HUBB) by 11.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 61,567 shares of the industrial products company’s stock after selling 7,684 shares during the period. Korea Investment CORP’s holdings in Hubbell were worth $26,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of HUBB. Boston Partners purchased a new stake in Hubbell during the second quarter valued at $230,691,000. Troy Asset Management Ltd purchased a new position in Hubbell in the second quarter worth about $132,540,000. Bain Capital Public Equity Management II LLC purchased a new position in Hubbell in the second quarter worth about $132,286,000. Massachusetts Financial Services Co. MA grew its stake in shares of Hubbell by 15.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after purchasing an additional 226,856 shares during the period. Finally, Merewether Investment Management LP bought a new stake in shares of Hubbell during the 2nd quarter valued at about $68,164,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 3.4%

HUBB stock opened at $487.69 on Tuesday. Hubbell Inc has a twelve month low of $299.42 and a twelve month high of $533.80. The company has a quick ratio of 1.00, a current ratio of 1.72 and a debt-to-equity ratio of 0.53. The stock has a market cap of $25.93 billion, a P/E ratio of 29.26, a PEG ratio of 2.38 and a beta of 1.00. The business’s 50-day moving average price is $492.09 and its 200-day moving average price is $456.70.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.03. Hubbell had a return on equity of 27.45% and a net margin of 15.29%.The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $4.10 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. On average, equities research analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is 34.07%.

Insider Activity

In other news, VP Katherine Anne Lane sold 4,610 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $505.60, for a total transaction of $2,330,816.00. Following the sale, the vice president directly owned 14,913 shares in the company, valued at $7,540,012.80. This trade represents a 23.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerben Bakker sold 25,233 shares of Hubbell stock in a transaction on Friday, February 6th. The shares were sold at an average price of $498.97, for a total transaction of $12,590,510.01. Following the transaction, the chief executive officer owned 64,420 shares in the company, valued at approximately $32,143,647.40. This trade represents a 28.15% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 34,689 shares of company stock valued at $17,407,395. 0.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on HUBB. Stephens reiterated an “overweight” rating and issued a $550.00 price objective on shares of Hubbell in a research note on Thursday, February 5th. UBS Group restated a “neutral” rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Thursday, January 22nd. Wells Fargo & Company increased their price target on shares of Hubbell from $515.00 to $550.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Finally, Barclays lifted their price target on shares of Hubbell from $465.00 to $481.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $529.75.

Hubbell Company 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.