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

Korea Investment CORP lessened its holdings in Hubbell Inc (NYSE:HUBB) by 11.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,567 shares of the industrial products company’s stock after selling 7,684 shares during the quarter. Korea Investment CORP owned about 0.12% of Hubbell worth $26,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. boosted its position in shares of Hubbell by 141.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Mather Group LLC. bought a new position in Hubbell during the 3rd quarter valued at approximately $37,000. Root Financial Partners LLC bought a new position in Hubbell during the 3rd quarter valued at approximately $45,000. SBI Securities Co. Ltd. raised its stake in Hubbell by 278.1% during the third quarter. SBI Securities Co. Ltd. now owns 121 shares of the industrial products company’s stock valued at $52,000 after buying an additional 89 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its stake in Hubbell by 185.4% during the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after buying an additional 89 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 3.4%

Hubbell stock opened at $487.69 on Tuesday. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $533.80. The stock has a fifty day simple moving average of $492.09 and a two-hundred day simple moving average of $456.70. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 2.38 and a beta of 1.00.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results 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 firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company posted $4.10 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. Equities analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, February 27th. This represents a $5.68 annualized dividend and a yield of 1.2%. Hubbell’s dividend payout ratio is currently 34.07%.

Insider Activity at Hubbell

In other news, CEO Gerben Bakker sold 25,233 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 64,420 shares of the company’s stock, valued at $32,143,647.40. This trade represents a 28.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Katherine Anne Lane sold 4,610 shares of Hubbell stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $505.60, for a total transaction of $2,330,816.00. Following the completion of the sale, the vice president owned 14,913 shares of the company’s stock, valued at $7,540,012.80. This represents a 23.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 34,689 shares of company stock worth $17,407,395. 0.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of recent research reports. Barclays increased their target price on Hubbell from $465.00 to $481.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Morgan Stanley set a $515.00 price target on Hubbell in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $478.00 to $532.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Stephens reissued an “overweight” rating and set a $550.00 price objective on shares of Hubbell in a research report on Thursday, February 5th. Finally, Wells Fargo & Company raised their price objective on shares of Hubbell from $515.00 to $550.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.