Virtus Advisers LLC Invests $2.51 Million in Powell Industries, Inc. $POWL

Virtus Advisers LLC purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,757 shares of the industrial products company’s stock, valued at approximately $2,508,000. Powell Industries accounts for about 1.0% of Virtus Advisers LLC’s holdings, making the stock its 17th biggest holding.

Other institutional investors have also recently modified their holdings of the company. Capital World Investors acquired a new stake in Powell Industries in the fourth quarter valued at $20,704,000. Private Advisory Group LLC purchased a new position in shares of Powell Industries in the 2nd quarter valued at about $14,158,000. Voss Capital LP lifted its stake in shares of Powell Industries by 18.6% in the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock valued at $111,573,000 after purchasing an additional 55,000 shares during the period. Convergence Investment Partners LLC purchased a new stake in Powell Industries during the fourth quarter worth about $1,409,000. Finally, Rock Creek Group LP boosted its holdings in Powell Industries by 1,900.0% during the fourth quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock worth $47,817,000 after buying an additional 142,500 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $197.40 on Friday. The firm’s 50-day moving average is $241.49 and its two-hundred day moving average is $230.66. The company has a market capitalization of $7.19 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18. Powell Industries, Inc. has a 12-month low of $81.27 and a 12-month high of $328.00.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $316.70 million. During the same period last year, the business earned $3.96 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts forecast that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued 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 of this dividend is Wednesday, August 19th. Powell Industries’s payout ratio is 6.91%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Michael William Metcalf sold 4,500 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the sale, the executive vice president owned 78,900 shares of the company’s stock, valued at $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Alan Cope sold 4,440 shares of Powell Industries stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the sale, the chief executive officer owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,898 shares of company stock worth $12,353,653 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

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.