Roman Butler Fullerton & Co. Acquires Shares of 9,653 Powell Industries, Inc. $POWL

Roman Butler Fullerton & Co. bought a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,653 shares of the industrial products company’s stock, valued at approximately $2,178,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Greenline Wealth Management LLC acquired a new position in shares of Powell Industries during the fourth quarter valued at $29,000. MassMutual Private Wealth & Trust FSB increased its position in Powell Industries by 183.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 68 shares during the period. State of Wyoming acquired a new stake in Powell Industries in the second quarter worth about $33,000. Steward Partners Investment Advisory LLC raised its holdings in Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the last quarter. Finally, First Horizon Corp bought a new stake in Powell Industries during the 4th quarter worth about $40,000. Institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of POWL stock opened at $213.48 on Monday. Powell Industries, Inc. has a 12-month low of $78.50 and a 12-month high of $328.00. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 2.84 and a beta of 1.18. The firm has a fifty day moving average of $247.73 and a 200-day moving average of $229.09.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The firm had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. Powell Industries’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.96 EPS. Research analysts expect that Powell Industries, Inc. will post 5.36 earnings per share for the current year.

Powell Industries Dividend Announcement

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

Analyst Ratings Changes

POWL has been the topic of a number of research reports. Cantor Fitzgerald cut their target price 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. Weiss Ratings cut shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. increased their price objective 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, Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Powell Industries has a consensus rating of “Buy” and a consensus price target of $215.42.

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 33,958 shares of Powell Industries stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the transaction, the insider owned 564,736 shares in the company, valued at $166,309,104.64. The trade was a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Alan Cope sold 4,440 shares of Powell Industries stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00. Following the transaction, the chief executive officer owned 517,233 shares in the company, valued at $124,937,631.15. This trade represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,898 shares of company stock worth $12,353,653 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

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.