McKinley Carter Wealth Services Inc. Has $8.10 Million Stake in Hubbell Inc $HUBB

McKinley Carter Wealth Services Inc. boosted its stake in Hubbell Inc (NYSE:HUBB) by 16.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,829 shares of the industrial products company’s stock after purchasing an additional 2,843 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Hubbell were worth $8,098,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in Hubbell by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company’s stock valued at $937,623,000 after purchasing an additional 7,142 shares during the period. Invesco Ltd. increased its holdings in Hubbell by 2.1% in the first quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company’s stock valued at $503,757,000 after purchasing an additional 31,859 shares during the period. Deutsche Bank AG boosted its position in Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock valued at $365,353,000 after acquiring an additional 287,047 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Hubbell by 181.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after acquiring an additional 628,886 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Hubbell during the first quarter valued at $213,283,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on HUBB. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and set a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Wells Fargo & Company raised shares of Hubbell from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Finally, Barclays upped their price target on shares of Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $472.63.

Hubbell Price Performance

Shares of NYSE HUBB opened at $418.76 on Friday. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $481.35. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.35 and a beta of 0.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The firm’s 50-day simple moving average is $431.33 and its 200 day simple moving average is $398.80.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, beating 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 for 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, research analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $5.28 annualized dividend and a yield of 1.3%. Hubbell’s dividend payout ratio (DPR) is presently 34.29%.

Hubbell Company 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.