2,751 Shares in Powell Industries, Inc. $POWL Acquired by Expressive Wealth LLC

Expressive Wealth LLC acquired a new stake in shares of Powell Industries, Inc. (NASDAQ:POWLFree Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,751 shares of the industrial products company’s stock, valued at approximately $788,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Allworth Financial LP acquired a new stake in Powell Industries in the second quarter valued at about $33,000. Kayne Anderson Capital Advisors LP acquired a new stake in Powell Industries in the second quarter valued at approximately $2,741,000. Virtus Advisers LLC bought a new stake in shares of Powell Industries during the second quarter worth $2,508,000. LaSalle St. Investment Advisors LLC bought a new stake in shares of Powell Industries during the second quarter worth $336,000. Finally, Vise Technologies Inc. acquired a new position in shares of Powell Industries during the second quarter worth $843,000. Institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Up 0.1%

Shares of Powell Industries stock opened at $197.67 on Friday. Powell Industries, Inc. has a twelve month low of $83.02 and a twelve month high of $328.00. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 2.63 and a beta of 1.18. The company’s fifty day moving average is $239.55 and its 200 day moving average is $230.43.

Powell Industries (NASDAQ:POWLGet Free Report) last posted its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The company 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%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.96 earnings per share. As a group, equities analysts anticipate that Powell Industries, Inc. will post 5.36 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, September 16th. Stockholders of record on Wednesday, August 19th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is presently 6.91%.

Insider Transactions at Powell Industries

In related news, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the sale, the executive vice president directly owned 78,900 shares in the company, valued at $22,458,096. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the sale, the insider directly owned 564,736 shares of the company’s stock, valued at $166,309,104.64. This represents a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 42,898 shares of company stock worth $12,353,653 over the last ninety days. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

POWL has been the subject of a number of research reports. Cantor Fitzgerald dropped their price target on Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. JPMorgan Chase & Co. upped their target price on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings cut Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.42.

Read Our Latest Stock Report on POWL

Powell Industries Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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