RPG Investment Advisory LLC Trims Position in Powell Industries, Inc. $POWL

RPG Investment Advisory LLC lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 13.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,973 shares of the industrial products company’s stock after selling 10,912 shares during the period. Powell Industries comprises approximately 2.5% of RPG Investment Advisory LLC’s investment portfolio, making the stock its 12th biggest holding. RPG Investment Advisory LLC owned approximately 0.56% of Powell Industries worth $21,668,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC grew its position in shares of Powell Industries by 42.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock worth $705,475,000 after buying an additional 686,588 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Powell Industries by 65.8% in the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock worth $187,479,000 after purchasing an additional 244,051 shares in the last quarter. State Street Corp grew its stake in Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after buying an additional 3,159 shares during the last quarter. Invesco Ltd. grew its stake in shares of Powell Industries by 2.4% during the third quarter. Invesco Ltd. now owns 348,091 shares of the industrial products company’s stock worth $106,102,000 after acquiring an additional 8,083 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Powell Industries by 49.8% during the third quarter. Fisher Asset Management LLC now owns 300,496 shares of the industrial products company’s stock valued at $91,594,000 after acquiring an additional 99,857 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $168.27, for a total transaction of $747,104.00. Following the sale, the chief executive officer owned 507,873 shares of the company’s stock, valued at $85,458,096.80. The trade was a 0.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael William Metcalf sold 9,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total value of $1,584,000.00. Following the completion of the transaction, the executive vice president directly owned 83,400 shares of the company’s stock, valued at approximately $14,678,400. This trade represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 244,248 shares of company stock worth $43,496,270. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on POWL. Glj Research began coverage on shares of Powell Industries in a research note on Thursday, March 5th. They issued a “hold” rating and a $150.00 target price for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Cantor Fitzgerald increased their price target on shares of Powell Industries from $142.33 to $160.33 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Powell Industries currently has an average rating of “Moderate Buy” and a consensus price target of $142.33.

Powell Industries Price Performance

POWL opened at $186.72 on Tuesday. Powell Industries, Inc. has a 1 year low of $51.35 and a 1 year high of $204.17. The stock has a market cap of $2.27 billion, a P/E ratio of 12.13, a P/E/G ratio of 2.38 and a beta of 0.81. The firm has a fifty day moving average price of $61.20 and a 200 day moving average price of $46.28.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.18. The business had revenue of $251.18 million during the quarter, compared to analysts’ expectations of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. Equities analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, February 18th. This represents a $0.36 annualized dividend and a yield of 0.2%. Powell Industries’s payout ratio is presently 7.02%.

Powell Industries 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.