Invst LLC Takes $2.93 Million Position in Powell Industries, Inc. $POWL

Invst LLC purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,245 shares of the industrial products company’s stock, valued at approximately $2,934,000.

Other institutional investors also recently bought and sold shares of the company. Greenline Wealth Management LLC bought a new stake in shares of Powell Industries in the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB grew its holdings in Powell Industries by 183.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Allworth Financial LP bought a new position in Powell Industries during the 2nd quarter worth about $33,000. State of Wyoming purchased a new position in Powell Industries during the 2nd quarter valued at about $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Powell Industries during the 2nd quarter valued at about $34,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

POWL has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald cut their price objective on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Weiss Ratings downgraded shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Zacks Research cut Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.42.

Powell Industries Price Performance

Shares of POWL stock opened at $190.19 on Wednesday. The stock’s fifty day moving average price is $235.21 and its 200 day moving average price is $231.39. Powell Industries, Inc. has a 1-year low of $83.85 and a 1-year high of $328.00. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 36.50, a price-to-earnings-growth ratio of 2.52 and a beta of 1.18.

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

Powell Industries Announces Dividend

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

Insider Buying and Selling

In other Powell Industries news, EVP Michael William Metcalf sold 4,500 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the transaction, the executive vice president owned 78,900 shares of the company’s stock, valued at approximately $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 Powell Industries stock in a transaction on 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 sale, the insider owned 564,736 shares of the company’s stock, valued at $166,309,104.64. The trade was a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,898 shares of company stock worth $12,353,653 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Company Profile

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.