Private Advisory Group LLC Purchases Shares of 49,440 Powell Industries, Inc. $POWL

Private Advisory Group LLC acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 49,440 shares of the industrial products company’s stock, valued at approximately $14,158,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Powell Industries by 1.5% during the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after purchasing an additional 461 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Powell Industries by 7.9% during the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock worth $1,075,000 after buying an additional 461 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Powell Industries by 1,221.0% during the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock worth $236,000 after buying an additional 1,282 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Powell Industries by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock valued at $4,841,000 after buying an additional 1,311 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Powell Industries by 6.2% during the second quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock valued at $6,548,000 after buying an additional 1,822 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 33,958 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider owned 564,736 shares of the company’s stock, valued at $166,309,104.64. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at $124,937,631.15. This represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,898 shares of company stock worth $12,353,653 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $213.48 on Friday. The business’s 50 day moving average price is $247.73 and its 200-day moving average price is $228.48. Powell Industries, Inc. has a 1 year low of $78.50 and a 1 year high of $328.00. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 2.86 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.07). The company had revenue of $311.74 million during the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.Powell Industries’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.96 EPS. On average, sell-side analysts expect that Powell Industries, Inc. will post 5.36 earnings per share for the current year.

Powell Industries Announces Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is 6.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Cantor Fitzgerald dropped their target price on Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research report on Friday. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $215.42.

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.