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Economists are predicting another strong summer for teen employment in 2023. 
Average hourly wages for teen workers grew much faster than average wages among all workers over the last year.
Teens are more likely to have a paying job over the summer and while in school compared with just a few years ago.

More than half of Tal Thompson’s 46 employees are teenagers.
The owner of the Art Factory in Midlothian, Virginia, said this summer, more than ever, she’s been inundated with applications from high school and college students looking for work.

The pay for jobs at the studio and coffee shop, which hosts art classes, summer camps, birthday parties and other events, start at $12 an hour, Virginia’s state minimum wage.
“This year, the resumes flooded in,” Thompson said.
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Job opportunities and wages rise for teens

Economists are predicting another strong summer for teen employment in 2023. Already, teens make up 18% of all summer hires this year, up from 15% a year ago, according to data from payroll platform Gusto.
“The market for teens is hotter than it’s ever been,” said Luke Pardue, an economist at Gusto.

Their wages are also rising. Average hourly wages for teen workers grew much faster than average wages among all workers over the last year, notching a 9% gain among 15- to 19- year-olds, compared with a 6% decline for workers age 25 and older, according to Gusto’s New Hires Pay Index.

The strong labor market and increased demand for low-wage work have also contributed to a rise in labor force participation.
Now, teens are more likely to have a paying job over the summer and while in school compared with just a few years ago. In 2022, 37% of teens between ages 16 and 19 were part of the workforce, up from 35% in 2019, figures from the U.S. Department of Labor show.

‘If they earn it and burn it, that’s a big problem’

The ability to find employment and earn more money should come as a “wake-up call” for every young adult with a paycheck, cautioned Gregg Murset, a certified financial planner and CEO of BusyKid, a savings app for kids and families.
“This is a perfect opportunity,” he said, to practice a “balanced financial approach.”
“If they earn it and burn it, that’s a big problem.”

Murset advises his own teenagers to stash some of their summer earnings in a high-yield savings account or Roth individual retirement account and start investing, even if that means buying fractional shares of companies that are meaningful to them, such as Netflix, Nike, Amazon or Apple.
Also, teach teens to keep track of their balance and their investment portfolio on their phone and laptop, he added. As all transactions become increasingly cashless, “let them have a digital experience.”
Finally, “find a charity they think is important,” Murset said, and donate a portion of their income to that cause.
“This is exactly what we should be doing as adults,” he said. “Letting kids experience that exact scenario in their own ecosystem is super important.”
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The IRS is weighing guidance for small businesses that wrongly claimed the employee retention tax credit, according to the national taxpayer advocate.
As of June 14, there were roughly 537,000 unprocessed Form 941-Xs, which businesses must file for amended returns to claim the employee retention credit for 2020 or 2021.
If you wrongly claimed the employee retention credit, you may be subject to an IRS penalty, according to Debra Estrem, managing director of private wealth controversy at Deloitte Tax.

Erin M. Collins, National Taxpayer Advocate.
Source: IRS

After a flood of business returns with a pandemic-era tax credit, the IRS is weighing guidance for those who wrongly claimed the tax break.
The employee retention credit was created to support small businesses during the Covid-19 pandemic. There’s still time to amend returns and claim the credit, which is worth up to $5,000 per employee for 2020 or $28,000 per employee in 2021.

Experts say the opportunity has sparked a wave of specialist firms falsely promising business owners they qualify for the complicated tax break.
“I do think people were duped,” said National Taxpayer Advocate Erin Collins, speaking at the American Institute of Certified Public Accountants’ annual conference this month. People claimed the credit and may have already received a refund, she added.
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The IRS warned business owners about “third parties” promoting the employee retention credit in October and recently renewed its warning by adding the issue to its annual list of Dirty Dozen tax scams for 2023.
As of March 3, just over 866,000 companies claimed and received employee retention credits totaling over $152.6 billion, according to the latest IRS Data Book.

IRS working on ERC credit guidance

Currently, there’s a backlog of Form 941-Xs, known as the adjusted employer’s quarterly federal tax return, which businesses must use to amend returns to claim the employee retention credit for 2020 or 2021. As of June 14, there were roughly 537,000 unprocessed Form 941-Xs, according to the IRS.
Collins said the IRS is working on guidance for filers who may have wrongly claimed the credit.
“I think now there’s a bit of buyer’s remorse,” she told CNBC in early June, noting that ineligible filers should start thinking about “ways to undo this” if they realize they don’t qualify. 

The biggest thing is to come forward first.

Rosemary Sereti
Managing director of Deloitte Tax

“The biggest thing is to come forward first,” said Rosemary Sereti, managing director of Deloitte Tax and a former IRS senior executive, when speaking to CNBC about employee retention credit mistakes. “Once [the IRS] comes to you, it’s a little too late.” 
Of course, the current backlog of Form 941-Xs also includes a lot of “legitimate claims” for the employee retention credit, which have been delayed as the IRS reviews the filings, Collins said. The IRS website says the agency is working on the inventory at two sites with “trained staff” to review possible Covid-19 credits.

Possible IRS penalty wrongly claiming ERC

If you wrongly claimed the employee retention credit, you may be subject to an IRS penalty, according to Debra Estrem, managing director of private wealth controversy at Deloitte Tax, who also worked at the IRS Office of the Chief Counsel.
She said you may be subject to the “erroneous claim for refund or credit penalty,” which is typically 20% of the excess amount claimed. But the type of penalty depends on whether the error occurred on the original filing or an amended return.    More

From the start of the year through the end of May, companies announced plans to cut 417,500 jobs, up 315% from the same period last year, according to Challenger, Gray & Christmas.
WARN notices can help workers scope out if layoffs are underway.
There are other ways to tell if layoffs are coming, and some ‘will send shivers down your spine,’ said career advisor Suzy Welch.

Daniel Grill | Tetra Images | Getty Images

The start of the year was plagued by waves of layoffs: through the end of May, companies announced plans to cut 417,500 jobs, up 315% from the same period last year, according to Challenger, Gray & Christmas. Big names like Disney, Google, Lyft and Meta were among those announcing cuts.
Figuring out if your company might be next isn’t easy, but there are some clues to watch for, experts say.

“There are signs that will send shivers down your spine,” said Suzy Welch, a career advisor and CNBC contributor.
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The state of layoffs

The tech industry has led layoff headlines, with more than 206,000 workers losing their jobs so far in 2023, according to Layoffs.fyi, a survey that keeps score of tech roles in the industry.
But every industry except for four — education, government, industrial manufacturing and utilities — has seen an increase in layoffs this year, according to Challenger, Gray & Christmas data.
Retailers laid off 45,168 workers through May, while financial firms announced 36,937 cuts, the firm found. The media industry slashed 17,436, its highest year-to-date tally on record.

Overall layoffs declined to 1.6 million in April from 1.8 million in March, according to the latest figures from the Job Openings and Labor Turnover Summary (JOLTS), a measure that also serves as a recession indicator.
“When the involuntary rate goes up, we are looking at more recessionary times,” said economist José Fernández, an associate professor at University of Louisville. “But if the voluntary rate is going up, it’s saying that workers have more demand, so they’re out there trying to get a better opportunity for themselves.”
Amazon, Dropbox and Lyft had the biggest layoffs in the tech industry for April. Google and Facebook parent Meta Platforms are responsible for the most tech layoffs since the pandemic, according to Layoffs.fyi.

Look at WARN notices in your state

So-called WARN notices can help workers figure out if layoffs are coming, Vivian Tu, a former trader turned influencer who goes by “Your Rich BFF,” said in a March Instagram video.
WARN notices get their name from the Worker Adjustment and Retraining Notification Act of 1988, a labor-protection law that requires companies with 100 or more employees to provide a 60 calendar-day notice of planned closings and layoffs.
In her video, Tu suggests searching for WARN notices in your state and others where your company does business to find the state government website that lists companies letting go of employees.
However, sometimes companies can avoid releasing these notices by spreading out the layoffs, said Susan Houseman, director of research for the W.E. Upjohn Institute for Employment Research.
“So maybe you’re going to lay off 75, say you lay off 40 one month and 26 the next to avoid WARN notice,” she said.

The law also protects employers by providing exceptions, such as unforeseen circumstances where the company could not have given a two-month notice to employees.
“All of a sudden something happens, demand for your product does a sudden nose[dive], and you just have to lay off workers, and you don’t have time to give them a 60-day notice,” Houseman said.
She clarified that this exception is not a solution for companies undergoing bankruptcies, because “you can’t have anticipated the bankruptcy 60 days out and declined to give notice.”
“Unless there’s rigorous enforcement of this, there certainly can be circumstances where companies should have given notice and didn’t,” Houseman said.

More ways to scope out layoffs

WARN notices are not the only red flags that can signal pending layoffs. Welch offers three more ways to investigate:

Pretend you are an investor and follow news on your company. “Sometimes the earliest canary in the coal mine are the industry media,” Welch said. Monitor your company online by reading what industry analysts and other experts are saying on different platforms about its finances and prospects. Subscribe to newsletters, blogs and outlets that cover your industry to keep a closer look at trends in your sector.
Pay attention to your company’s financial health. Workers can know how their company is doing financially by paying attention to earnings reports and guidance, and movements in its share price. “You have to have the discipline to take a look at what the markets are saying about your company and which way the stock price is going,” Welch said.
Watch your boss for clues. A trusting relationship with your supervisor can positively impact your work life on several fronts. You could hear of an incoming layoff earliest from them, as they will know before you. “Your boss is a human being. A boss will share that information with members of the team that they really trust,” Welch said.Of course, cost cutting is another sign to watch out for. Some examples include the cancellation of annual or regular events, or programs, projects and perks.”Anything that signals resource cuts that are not people, companies generally will try to cut projects, programs and events before they start cutting staff. You can be concerned that they are coming for people next,” Welch said. More

Since the Federal Reserve started raising interest rates, credit card APRs have soared.
The average credit card now charges 20.69%, which is a record.
Experts often recommend moving your balance from a high-rate credit card to one with a no-interest offer to reduce the amount you’re paying.

The Federal Reserve may have paused its aggressive interest rate hikes for now, but that offers little relief for anyone with credit card debt.
The central bank raised interest rates 10 times since last year — the fastest pace of tightening since the early 1980s — and that has caused credit card rates to hit an all-time high.

“Even though the Fed has hit the pause button on its rate-hiking campaign, the cumulative effect is significant,” said Ted Rossman, senior industry analyst at Bankrate.
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Since most credit cards have a variable rate, there’s a direct connection to the Fed’s benchmark. As the federal funds rate rose, the prime rate did, as well, and credit card rates followed suit.
The average credit card now charges a record 20.69%, nearly five percentage points higher than the beginning of last year, according to Rossman.
“While the skip means interest rates may not rise again this month, the high credit card interest rates consumers are currently seeing are going nowhere anytime soon,” said Michele Raneri, vice president and head of U.S. research and consulting at TransUnion.

Tackling credit card debt ‘is an urgent priority’

Sky-high APRs make credit cards one of the most expensive ways to borrow money from month to month and yet, many Americans continue to take on ever-increasing amounts of debt. While balances are higher, nearly half of credit card holders carry credit card debt from month to month, according to a Bankrate report.
“Paying down high-cost, variable-rate debt is an urgent priority for households,” said Greg McBride, chief financial analyst at Bankrate.
Experts often recommend moving that balance from a high-rate credit card to one with a no-interest or low-interest balance transfer offer to reduce the amount of interest you’re paying.

Balance transfers are ‘the best weapon’

“My top tip is to sign up for a 0% balance transfer card. These allow you to avoid interest for up to 21 months,” Rossman said.
While the offers may be a little harder to find than they were one year ago, “the good news is that you can still get balance transfer credit cards, assuming you have good credit, and they can save you a ton of money,” said Matt Schulz, chief credit analyst at LendingTree.”They are still about the best weapon you can have in your arsenal.”
To make the most of a balance transfer, aggressively pay down the balance during the introductory period. 
Otherwise, there could be a catch: If you don’t pay the balance off during the initial period, the remaining balance will have a new annual percentage rate applied to it, which is generally about 23%, on average, slightly higher than the rates for new credit.
Further, there can be limits on how much you can transfer as well as fees attached. Most cards have a one-time balance transfer fee, which is usually about 3% of the tab, but there can be an annual fee as well.
One late payment can negate your no-interest offer.
For more on balance transfer credit cards, check out CNBC Select’s recent ranking on the best balance transfer credit cards. More

The U.S. Department of Education says student loan “payments will be due starting in October.”
Interest on their debt will begin accruing even sooner.

Viktorcvetkovic | Istock | Getty Images

Over the three-year-long pause on student loan payments, the U.S. Department of Education has repeatedly told borrowers their bills were set to resume, only to take it back and provide them more time.
This time, however, the agency really means it.

The Education Department posted on its website that “payments will be due starting in October,” and a recent law passed by Congress will make changing that plan difficult.
It will likely be a big adjustment for borrowers when the pandemic-era policy expires. Around 40 million Americans have debt from their education. The typical monthly bill is roughly $350.
“For many borrowers, the payment pause has been life altering — saving many from financial ruin and allowing others to finally get ahead financially,” said Persis Yu, deputy executive director at the Student Borrower Protection Center.
Here’s what to know.

3-year pause saved the average borrower $15,000

Former President Donald Trump first announced the stay on federal student loan bills and the accrual of interest in March 2020, when the coronavirus pandemic hit the U.S. and crippled the economy.

The pause has since been extended eight times.
Nearly all people eligible for the relief have taken advantage of it, with less than 1% of qualifying borrowers continuing to make payments on their education debt, according to an analysis by higher education expert Mark Kantrowitz.

As a result of the policy, the average borrower likely saved around $15,000 in student loan payments, Kantrowitz said.

Why the pause will end in the fall

The Education Department notes on its financial aid website that “Congress recently passed a law preventing further extensions of the payment pause.”
It is referring to the agreement reached between Republicans and Democrats to raise the nation’s debt ceiling, which President Joe Biden signed into law in early June.
In exchange for voting to increase the borrowing limit, Republicans demanded large cuts to federal spending. They sought to repeal Biden’s executive action granting student loan forgiveness, but the Biden administration refused to agree to that.
However, included in the deal was a provision that officially terminates the pause at the end of August.
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Even before that agreement, the Biden administration had been preparing borrowers for their payments to resume by September.
“The emergency period is over, and we’re preparing our borrowers to restart,” Education Secretary Miguel Cardona recently said at a Senate hearing.

Interest will pick up in September, payments in October

The Education Department says borrowers will be expected to make their first post-pause payment in October. Meanwhile, interest will start accumulating on borrowers’ debt again on Sept. 1, the department says.
Exact due dates will vary based on your account details, Kantrowitz said.
“Your due date will be at least 21 days after you’re sent a loan statement,” he said.

Borrowers don’t know what they’ll owe

As the Biden administration tries to ready millions of Americans to restart their student loan payments, there’s one big open question that may make that preparation difficult: Most borrowers don’t know what they’ll owe in the fall.
That’s because the Supreme Court has yet to issue a verdict on the validity of Biden’s plan to cancel up to $20,000 in student debt for borrowers. A decision is expected this month.
Around 37 million people would be eligible for some loan cancellation, Kantrowitz estimated.
Roughly a third of those with federal student loans, or 14 million people, would have their balances entirely forgiven by the president’s program, according to an estimate by Kantrowitz. As a result, these borrowers won’t owe anything come October.
For those who still have a balance after the relief, the Education Department has said it plans to “re-amortize” borrowers’ lower debts. That’s a wonky term that means it will recalculate people’s monthly payment based on their lower tab and the number of months they have left on their repayment timeline.
Kantrowitz provided an example: Let’s say a person currently owes $30,000 in student loans at a 5% interest rate.
Before the pandemic, they would have paid around $320 a month on a 10-year repayment term. If forgiveness goes through and that person gets $10,000 in relief, their total balance would be reduced by a third, and their monthly payment will drop by a third, to roughly $210 a month.

Education Department Undersecretary James Kvaal recently warned that if the administration is unable to deliver on Biden’s loan forgiveness, delinquency and default rates could skyrocket.
The borrowers most in jeopardy of defaulting are those for whom Biden’s policy would have wiped out their balance entirely, Kvaal said.
“Unless the Department is allowed to provide one-time student loan debt relief,” Kvaal said, “we expect this group of borrowers to have higher loan default rates due to the ongoing confusion about what they owe.” More

Ask an Advisor

With an El Niño weather pattern developing, it could be another hot year.
Only 8% of the three billion people living in the hottest places on Earth have air conditioning.
A growing number of governments, corporations and individuals are searching for ways to reduce their footprints.

The Manhattan skyline is shrouded in a smoky haze from Canadian wildfires as seen from the East River waterfront in Brooklyn, New York, June 6, 2023.
Ed Jones | Afp | Getty Images

Eight of the warmest years in history have all come since 2015.
With an El Niño weather pattern developing, it could be another hot one because the last time that phenomenon occurred — in 2016 — it was the hottest year on record. 

What a warming world means is heating, ventilation and air-conditioning companies and other firms that provide climate technologies that make buildings more efficient have a multidecade opportunity for growth.   

The data tells the story

Of the three billion people living in the hottest places on earth, including Africa and the Middle East, only about 8% have air conditioning. Further, not only are incomes expanding in many of these same areas, but their populations are growing faster than much of the rest of the world. Historically, a strong link has existed between HVAC demand and these two data points. 
While the multiplier effect could be more modest in the developed world, including the U.S., demand will still rise as temperatures trend higher. Think about places such as Seattle. At one time, it was the least air-conditioned big city in the country, but recent heat waves in the Pacific Northwest have moved the needle there.

More from Ask an Advisor

Here are more FA Council perspectives on how to navigate this economy while building wealth.

Ongoing decarbonization efforts are another consideration. A growing number of governments, corporations and individuals are searching for ways to reduce their footprints, whether it’s adding solar energy, battery storage or heat pumps, or retrofitting buildings in other ways to make them more efficient.
Add it all together and there will be ample HVAC-related market opportunities to play these trends. 

Stocks for a warming world

Carrier Global Corporation is the North American residential and unitary commercial HVAC systems market leader. In April, it announced plans to divest its fire and security businesses and said it would acquire the HVAC and renewable energy business of the German industrial firm Viessmann Group. Those moves will help transform Carrier into a pure-play HVAC company with a large global footprint. Its shares currently trade under 19 times 2023 consensus earnings, a discount relative to industry peers, not to mention a broader set of industrial companies.  
Johnson Controls International provides a range of fire, security and HVAC-related tech, software and other products to make buildings more energy-efficient and reduce costs. The company’s smart building platform, OpenBlue, is helping drive double-digit growth in its service business, while orders also benefit from ongoing decarbonization and healthy building trends. 

Meanwhile, Hannon Armstrong Sustainable Infrastructure Capital doesn’t provide HVAC services or products but supplies capital to companies within this market that do. Its earnings per share have grown at a 14% compound growth rate over the last three years, while the company’s 12-month investment pipeline currently exceeds $5 billion. The stock now trades at 11 times consensus 2023 earnings. 
The signs that the world is warming are inescapable. Look no further than the layers of thick smoke that have recently blanketed New York and other parts of the Northeast corridor.
Unfortunately, not much scientific evidence suggests that current trends will let up. 
This has far-reaching implications, touching on everything from food production to clean drinking water and other serious health concerns. Beyond that, the conversation surrounding cooler and more efficient workspaces and homes will soon be less about luxury and more a matter of necessity, driving up demand for the products, services and equipment that will help to solve that challenge.
— Noah Kaye is managing director and senior analyst with Oppenheimer & Co. He covers sustainable growth and resource optimization. More

The employee retention tax credit, worth thousands per employee, was enacted in 2020 to support small businesses during the Covid-19 pandemic.
While the credit applies to tax year 2020 or 2021, there’s still time for business owners to amend returns to claim the credit.
However, experts warn taxpayers about “ERC mills” promoting the credit to businesses that may not qualify.

brightstars | E+ | Getty Images

Small businesses are facing an onslaught of ads, phone calls and emails to help them claim a pandemic-era tax credit. However, experts urge business owners to review eligibility with a qualified tax professional.
The tax break — known as the employee retention credit, or ERC — was enacted in 2020 to support small businesses during the Covid-19 pandemic, worth up to $5,000 per employee for 2020 or $28,000 per employee in 2021.

While the credit applies to tax year 2020 or 2021, business owners still have time to amend returns and claim the credit, which has sparked a flood of ads from companies offering to help.
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“The calls and solicitations are brutal,” said certified financial planner Craig Hausz, CEO and managing partner at CMH Advisors in Dallas. He is also a certified public accountant. “Our clients are getting a ton of these and it’s just bombarding them.”
While Hausz’s company has completed at least 100 amended filings for clients to claim the employee retention credit, it has also informed clients when they don’t qualify.
“ERC mills” have popped up, charging small businesses up to 25% to 30% of the credit received, said Kristin Esposito, director for tax policy and advocacy for the American Institute of CPAs.

“There’s a huge monetary incentive,” she said.

It’s really put a strain on a lot of client relationships.

Kristin Esposito
Director for tax policy and advocacy for the American Institute of CPAs

Esposito said ERC mills may promise business owners they qualify or calculate a larger credit than owners were told by their CPA. “It’s really put a strain on a lot of client relationships,” she said.
After warning business owners about “third parties” promoting the employee retention credit in October, the IRS added the issue to its annual list of “Dirty Dozen” tax scams for 2023.
“While the credit has provided a financial lifeline to millions of businesses, there are promoters misleading people and businesses into thinking they can claim these credits,” IRS Commissioner Danny Werfel said in a March statement. 

How to qualify for the employee retention credit

One of the challenges of claiming the employee retention credit is complexity, with rules having changed between 2020 and 2021, according to Hausz.
The credit was enacted to keep workers on payroll during the quarters affected by the Covid-19 pandemic. While eligibility was initially from March 13 through Dec. 31, 2020, the timeline was extended through the third quarter of 2021 for most businesses.

To qualify in 2020, businesses needed a government-mandated full or partial shutdown, or a “significant decline” in revenue, according to the IRS, with “less than 50% of gross receipts,” compared with the same calendar quarter in 2019. For 2021, the revenue thresholds dropped to “less than 80% of the same quarter” in 2019.
“We’ve done some for clients that had shutdowns, and we’ve done some that had revenue decreases,” which is easier to calculate, Hausz said.
Further, the credit was expanded from 2020 to 2021, originally covering 50% of qualified wages (limited to $10,000 annually per employee), for a maximum credit of $5,000 per employee in 2020. For 2021, the credit jumped to 70% of wages ($10,000 quarterly per employee), worth up to $7,000 per quarter or $28,000 per year.

Why it’s important to work with a tax professional

One of the difficulties of retroactively claiming the employee retention credit is business owners also must amend other returns, Esposito said.
While the process begins with Form 941-X — the adjusted payroll tax return — the changes flow down to business and personal income tax returns, “creating a cascade effect,” she said.

Hausz said the “big issue” with newer companies claiming to help businesses get this single credit is that they might not sign the amended returns, in order to skirt future liability. “Do not file this unless the people helping you are willing to put their name on the filing as the paid preparer,” he warned.
In the March statement, IRS Commissioner Danny Werfel warned that taxpayers are “ultimately responsible for the accuracy of the information on their tax return” and the agency is stepping up enforcement for these claims.
Hausz added that taxpayers should “go talk to a qualified professional,” such as a CPA, enrolled agent, tax attorney or financial advisor. “There are literally hundreds of firms that I know personally that would do the credit and sign their name on it.” More

Traders work on the floor of the New York Stock Exchange (NYSE) on June 14, 2023 in New York City. 
Spencer Platt | Getty Images

The increase in economic activity in the industrial, residential and commercial spaces over the past decade has driven the industrial goods sector higher — providing opportunities to invest.  
TipRanks recognized the 10 best analysts in the industrial goods sector who edged past their peers with their stock picking and delivered noteworthy returns through their recommendations. 

TipRanks used its Experts Center tool to find the analysts sporting a high success rate. We analyzed every recommendation by analysts in the space over the past 10 years.  TipRanks’ algorithms calculated the statistical significance of each rating, analysts’ overall success rate, and the average return. Further, these recommendations were measured over one year. 

Top 10 analysts from the consumer goods sector 

The image below shows the most successful Wall Street analysts from the industrial goods sector. 

Arrows pointing outwards

1. Kenneth Herbert – RBC Capital 

 Kenneth Herbert tops the list. Herbert has an overall success rate of 64%. His best rating has been on Leonardo DRS (NASDAQ:DRS), a defense contractor. His buy call on DRS stock from April 2, 2020 to April 02, 2021, generated a sharp return of 244.5%. 

2. Stephen Volkmann – Jefferies 

Stephen Volkmann is second on the list with a success rate of 68%. Volkmann’s top recommendation is Parker Hannifin (NYSE:PH), a company specializing in motion and control technologies. The analyst generated a profit of 166.4% through his buy recommendation on PH stock from March 27, 2020 to March 27, 2021. 

 3. Seth Weber – Wells Fargo  

Wells Fargo analyst Seth Weber ranks No. 3 on the list. Weber has a success rate of 66%. His best recommendation has been on Herc Holdings (NYSE:HRI), an equipment rental firm. The analyst generated a return of 359.5% through a buy recommendation on HRI from April 17, 2020 to April 17, 2021. 

4. Benoit Poirier – Desjardins  

Benoit Poirier bags the fourth spot on the list. The analyst has a 67% overall success rate. Poirier’s best recommendation has been on TFI International (TSE:TFII), a transportation and logistics company. The analyst generated a profit of 215.20% through his buy recommendation on Tifi stock from April 22, 2020 to April 22, 2021.

5. Keith Hughes – Truist Financial 

Fifth-place analyst Keith Hughes has a success rate of 62%. His best recommendation is Builders FirstSource (NYSE:BLDR), a leading supplier of building materials. The analyst delivered a profit on this stock of 284.6% from April 16, 2020 to April 16, 2021.  

6. Stanley Elliott – Stifel Nicolaus 

Taking the sixth position is Stanley Elliott. The analyst sports a 69% success rate. Elliott’s top recommendation was for Caterpillar (NYSE:CAT), a leading manufacturer of construction and mining equipment. Through the buy call on CAT stock, the analyst generated a solid return of 149.3% from March 16, 2020 to March 16, 2021. 

7. Andrew Kaplowitz – Citi 

Citigroup analyst Andrew Kaplowitz is seventh on this list, with a success rate of 65%. Kaplowitz’s best call has been a buy on the shares of Symbotic (NASDAQ:SYM), a warehouse automation company. The recommendation generated a return of 300% from November 22, 2022 to today. 

8. Julian Mitchell – Barclays 

In the eighth position is Julian Mitchell of Barclays. Mitchell has an overall success rate of 66%. The analyst’s top recommendation was for an intelligent climate and energy solutions provider, Carrier Global (NYSE:CARR). Through the buy call, the analyst generated a solid return of 145.4% from May 11, 2020 to May 11, 2021. 

9. Gautam Khanna — TD Cowen

Gautam Khanna ranks ninth on the list. The analyst sports a 68% success rate. His top call was made on Johnson Controls (NYSE:JCI), a company that creates infrastructure and building safety solutions. The buy recommendation generated a return of 134.8% from May 14, 2020 to May 14, 2021. 

10. Christopher Glynn – Oppenheimer 

Christopher Glynn has the 10th spot on the list, with a success rate of 60%. Glynn’s best call has been a buy on shares of Generac (NYSE:GNRC), an energy technology company providing advanced power grid software solutions and backup and prime power systems. The recommendation generated a return of 284.2% from March 23, 2020 to March 23, 2021. 

Bottom line 

Investors could follow the ratings of top analysts to make an informed investment decision. We will return soon with the top 10 analysts of the past decade in the Utilities sector.  More