McKinley Carter Wealth Services Inc. Decreases Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

McKinley Carter Wealth Services Inc. lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,986 shares of the industrial products company's stock after selling 1,058 shares during the period. McKinley Carter Wealth Services Inc.'s holdings in Hubbell were worth $5,621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Creative Financial Designs Inc. ADV raised its position in shares of Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after purchasing an additional 30 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Hubbell in the fourth quarter worth approximately $30,000. Johnson Financial Group Inc. lifted its stake in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after buying an additional 65 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Hubbell during the first quarter valued at approximately $49,000. Finally, CX Institutional purchased a new position in Hubbell in the 1st quarter worth approximately $49,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the sale, the director now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the sale, the chief executive officer now directly owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on HUBB shares. Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Barclays lifted their target price on shares of Hubbell from $400.00 to $414.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Hubbell has an average rating of "Hold" and a consensus target price of $459.25.

Hubbell Stock Performance

Shares of NYSE:HUBB traded up $1.90 during midday trading on Thursday, hitting $390.89. The company had a trading volume of 337,175 shares, compared to its average volume of 536,653. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35. The company has a fifty day moving average of $367.69 and a two-hundred day moving average of $389.61. The company has a market cap of $20.86 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $3.60 EPS. On average, equities research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio is currently 35.72%.

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.