Wesbanco Bank Inc. Purchases 1,800 Shares of Powell Industries, Inc. $POWL

Wesbanco Bank Inc. lifted its position in Powell Industries, Inc. (NASDAQ:POWL) by 37.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,600 shares of the industrial products company’s stock after purchasing an additional 1,800 shares during the quarter. Wesbanco Bank Inc. owned 0.05% of Powell Industries worth $2,012,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Elevation Point Wealth Partners LLC purchased a new stake in Powell Industries in the second quarter worth approximately $33,000. State of Wyoming bought a new stake in shares of Powell Industries in the 2nd quarter worth approximately $33,000. Manchester Capital Management LLC boosted its stake in shares of Powell Industries by 42.9% in the 2nd quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 60 shares in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Powell Industries in the 2nd quarter valued at $46,000. Finally, Morgan Dempsey Capital Management LLC bought a new position in shares of Powell Industries during the 2nd quarter valued at $52,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Cantor Fitzgerald boosted their price target on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Powell Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $415.50.

Powell Industries Trading Up 1.5%

Powell Industries stock opened at $570.26 on Wednesday. The firm has a market cap of $6.92 billion, a P/E ratio of 37.05, a P/E/G ratio of 2.56 and a beta of 0.85. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $593.76. The firm has a 50-day moving average of $390.94 and a 200-day moving average of $332.86.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The business had revenue of $251.18 million during the quarter, compared to analyst estimates of $255.34 million. During the same quarter in the prior year, the company posted $2.86 EPS. Powell Industries’s quarterly revenue was up 4.1% compared to the same quarter last year. Research analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 0.2%. Powell Industries’s payout ratio is 6.95%.

Insiders Place Their Bets

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the transaction, the vice president directly owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. The trade was a 40.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

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.