Journey Strategic Wealth LLC Takes $224,000 Position in Powell Industries, Inc. $POWL

Journey Strategic Wealth LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, Holdings Channel reports. The firm purchased 1,065 shares of the industrial products company’s stock, valued at approximately $224,000.

Several other large investors also recently bought and sold shares of POWL. New Vernon Capital Holdings II LLC purchased a new position in Powell Industries in the 1st quarter worth approximately $34,554,000. RPG Investment Advisory LLC increased its holdings in shares of Powell Industries by 342.4% in the first quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company’s stock valued at $26,252,000 after purchasing an additional 119,289 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Powell Industries in the first quarter valued at approximately $16,405,000. Jacobs Levy Equity Management Inc. lifted its position in Powell Industries by 137.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 134,946 shares of the industrial products company’s stock worth $22,985,000 after buying an additional 78,163 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Powell Industries by 96.9% during the first quarter. Federated Hermes Inc. now owns 123,349 shares of the industrial products company’s stock worth $21,010,000 after buying an additional 60,690 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on POWL shares. Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Roth Capital reissued a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Powell Industries presently has an average rating of “Buy” and a consensus price target of $331.00.

Powell Industries Stock Up 6.4%

NASDAQ:POWL opened at $300.08 on Tuesday. Powell Industries, Inc. has a 52 week low of $146.02 and a 52 week high of $413.00. The stock’s fifty day moving average is $329.97 and its two-hundred day moving average is $259.14. The company has a market capitalization of $3.63 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.95 and a beta of 0.81.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.46. The firm had revenue of $297.98 million during the quarter, compared to the consensus estimate of $292.85 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $3.77 EPS. Sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Powell Industries’s payout ratio is 7.21%.

Insider Activity at Powell Industries

In related news, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total transaction of $955,968.00. Following the completion of the transaction, the executive vice president owned 25,700 shares of the company’s stock, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.