EP Wealth Advisors LLC Takes $1.22 Million Position in Powell Industries, Inc. $POWL

EP Wealth Advisors LLC purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,245 shares of the industrial products company’s stock, valued at approximately $1,216,000.

Other large investors have also recently bought and sold shares of the company. Expressive Wealth LLC acquired a new stake in Powell Industries during the 2nd quarter worth about $788,000. Allworth Financial LP acquired a new position in shares of Powell Industries in the 2nd quarter valued at about $33,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Powell Industries in the 2nd quarter valued at about $2,741,000. Virtus Advisers LLC purchased a new stake in shares of Powell Industries in the second quarter worth approximately $2,508,000. Finally, LaSalle St. Investment Advisors LLC purchased a new stake in shares of Powell Industries in the second quarter worth approximately $336,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 4,440 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the completion of the sale, the chief executive officer directly owned 517,233 shares in the company, valued at $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the completion of the sale, the insider directly owned 564,736 shares in the company, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 42,898 shares of company stock worth $12,353,653. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Cantor Fitzgerald lowered their price objective on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Glj Research upgraded shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.42.

Powell Industries Stock Performance

NASDAQ:POWL opened at $197.67 on Monday. The stock’s 50 day moving average price is $239.55 and its 200 day moving average price is $231.02. Powell Industries, Inc. has a 52 week low of $83.02 and a 52 week high of $328.00. The company has a market capitalization of $7.20 billion, a P/E ratio of 37.94, a P/E/G ratio of 2.63 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The business had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. Powell Industries’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.96 earnings per share. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 5.36 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is presently 6.91%.

About Powell Industries

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.