Korea Investment CORP Purchases 39,439 Shares of Hubbell Inc $HUBB

Key Points

• Korea Investment CORP increased its stake in Hubbell Inc by 98.0% in Q1, acquiring an additional 39,439 shares, bringing its total ownership to approximately 0.15% of the company.
• Hubbell reported an EPS of $4.93 for the last quarter, exceeding estimates, and has set its FY 2025 guidance at 17.650-18.15 EPS.
• The company announced a quarterly dividend of $1.32 per share, representing an annualized yield of 1.2%, payable to investors on record by August 29th.

Korea Investment CORP raised its position in Hubbell Inc (NYSE:HUBB - Free Report) by 98.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,688 shares of the industrial products company's stock after acquiring an additional 39,439 shares during the quarter. Korea Investment CORP owned approximately 0.15% of Hubbell worth $26,370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tsfg LLC acquired a new stake in Hubbell in the 1st quarter valued at about $30,000. Johnson Financial Group Inc. raised its stake in Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after buying an additional 65 shares during the period. NBC Securities Inc. acquired a new stake in shares of Hubbell in the first quarter valued at approximately $49,000. CX Institutional bought a new position in shares of Hubbell during the 1st quarter worth approximately $49,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Hubbell during the 1st quarter worth approximately $66,000. Institutional investors own 88.16% of the company's stock.

Wall Street Analyst Weigh In

HUBB has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays lifted their target price on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Wells Fargo & Company upped their price target on shares of Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $462.29.

Hubbell Trading Up 0.0%

HUBB stock opened at $432.3960 on Wednesday. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $481.35. The company has a market capitalization of $22.98 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99. The company's 50-day simple moving average is $417.80 and its 200 day simple moving average is $382.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, sell-side analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. Hubbell's dividend payout ratio is currently 34.29%.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.

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