Vise Technologies Inc. Makes New $843,000 Investment in Powell Industries, Inc. $POWL

Vise Technologies Inc. purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,944 shares of the industrial products company’s stock, valued at approximately $843,000.

Several other large investors have also recently made changes to their positions in the business. Greenline Wealth Management LLC bought a new stake in shares of Powell Industries in the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 valued at $30,000 after purchasing an additional 68 shares during the last quarter. State of Wyoming purchased a new position in Powell Industries in the 2nd quarter worth $33,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Powell Industries in the 2nd quarter worth $34,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Powell Industries

In other news, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the transaction, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the transaction, the insider directly owned 564,736 shares in the company, valued at $166,309,104.64. This trade represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 42,898 shares of company stock worth $12,353,653. 2.20% of the stock is currently owned by insiders.

Powell Industries Stock Performance

Powell Industries stock opened at $197.67 on Monday. The firm has a 50-day moving average of $239.55 and a 200-day moving average of $231.02. The firm has a market cap of $7.20 billion, a P/E ratio of 37.94, a P/E/G ratio of 2.63 and a beta of 1.18. Powell Industries, Inc. has a 1-year low of $83.02 and a 1-year high of $328.00.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) 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 the consensus estimate of $316.70 million. During the same period in the previous year, the business earned $3.96 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts forecast that Powell Industries, Inc. will post 5.36 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

About Powell Industries

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.