McKinley Carter Wealth Services Inc. Purchases 2,843 Shares of Hubbell Inc $HUBB

Key Points

• McKinley Carter Wealth Services Inc. increased its holdings in Hubbell Inc by 16.7%, acquiring an additional 2,843 shares, bringing their total ownership to 19,829 shares valued at approximately $8.1 million.
• Multiple analysts have raised their ratings and target prices for Hubbell, with a consensus target price now at $472.63 and five analysts rating the stock as a "Buy."
• Hubbell recently declared a quarterly dividend of $1.32 per share, representing an annualized dividend yield of 1.3% and a payout ratio of 34.29%.

McKinley Carter Wealth Services Inc. raised its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 16.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,829 shares of the industrial products company's stock after acquiring 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 quarter.

A number of other large investors have also added to or reduced their stakes in HUBB. Teacher Retirement System of Texas raised its holdings in Hubbell by 1,462.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company's stock valued at $2,596,000 after acquiring an additional 7,344 shares in the last quarter. Private Trust Co. NA raised its holdings in Hubbell by 60.4% in the 1st quarter. Private Trust Co. NA now owns 292 shares of the industrial products company's stock valued at $97,000 after acquiring an additional 110 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in Hubbell by 29.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,578 shares of the industrial products company's stock valued at $522,000 after acquiring an additional 360 shares in the last quarter. Beacon Financial Group acquired a new position in Hubbell in the 2nd quarter valued at $262,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in Hubbell in the 1st quarter valued at $1,423,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised Hubbell from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Weiss Ratings restated a "buy (b-)" rating on shares of Hubbell in a research note on Wednesday. Stephens restated an "overweight" rating and set a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Barclays upped their target price on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $472.63.

Hubbell Stock Down 0.2%

Shares of NYSE:HUBB opened at $418.76 on Friday. The company has a fifty day moving average of $431.33 and a 200-day moving average of $398.80. The company has a market capitalization of $22.25 billion, a PE ratio of 27.19, a price-to-earnings-growth 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. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $481.35.

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

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.3%. Hubbell's dividend payout ratio is 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.

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