Ashton Thomas Private Wealth LLC Invests $214,000 in Powell Industries, Inc. $POWL

Ashton Thomas Private Wealth LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, Holdings Channel.com reports. The firm purchased 1,019 shares of the industrial products company’s stock, valued at approximately $214,000.

A number of other hedge funds have also made changes to their positions in the stock. Roman Butler Fullerton & Co. increased its holdings in shares of Powell Industries by 1.7% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 3,663 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 62 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Powell Industries by 2.7% during the 1st quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 77 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of Powell Industries by 168.8% during the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Powell Industries by 0.5% during the 1st quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company’s stock valued at $4,337,000 after acquiring an additional 118 shares during the last quarter. Finally, Huntleigh Advisors Inc. increased its holdings in shares of Powell Industries by 5.6% during the 2nd quarter. Huntleigh Advisors Inc. now owns 2,268 shares of the industrial products company’s stock valued at $477,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Stock Up 1.5%

POWL opened at $383.39 on Friday. The firm has a market capitalization of $4.63 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 1.95 and a beta of 0.82. The stock’s 50 day moving average price is $308.34 and its two-hundred day moving average price is $240.45. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $413.00.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.23. The firm had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The company’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $3.79 EPS. As a group, analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th were issued a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is 7.43%.

Insider Buying and Selling

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total value of $955,968.00. Following the completion of the sale, the executive vice president owned 25,700 shares in the company, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Birchall sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the sale, the director owned 6,700 shares of the company’s stock, valued at $1,742,201. This represents a 30.93% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $312.00.

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.