Hubbell Incorporated (NYSE:HUBB) Stake Boosted by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. increased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,044 shares of the industrial products company’s stock after buying an additional 583 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Hubbell were worth $7,558,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board lifted its position in Hubbell by 78.6% in the second quarter. Public Sector Pension Investment Board now owns 2,048 shares of the industrial products company’s stock worth $749,000 after purchasing an additional 901 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Hubbell by 260.0% in the second quarter. APG Asset Management N.V. now owns 5,400 shares of the industrial products company’s stock valued at $1,841,000 after buying an additional 3,900 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Hubbell by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 32,538 shares of the industrial products company’s stock valued at $11,892,000 after buying an additional 332 shares during the period. Creative Planning boosted its stake in Hubbell by 31.9% during the second quarter. Creative Planning now owns 3,473 shares of the industrial products company’s stock valued at $1,269,000 after buying an additional 839 shares in the last quarter. Finally, Quarry LP acquired a new position in Hubbell during the second quarter worth about $49,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HUBB. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Barclays lifted their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company decreased their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hubbell currently has an average rating of “Hold” and an average target price of $471.50.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB opened at $412.85 on Wednesday. Hubbell Incorporated has a 52 week low of $326.13 and a 52 week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market capitalization of $22.16 billion, a PE ratio of 29.74, a PEG ratio of 1.57 and a beta of 0.93. The company’s 50 day moving average price is $441.23 and its 200 day moving average price is $420.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.95 earnings per share. Research analysts expect that Hubbell Incorporated will post 16.48 EPS for the current fiscal year.

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.