Powell Industries, Inc. $POWL Shares Sold by Vest Financial LLC

Vest Financial LLC decreased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 32.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,827 shares of the industrial products company’s stock after selling 8,514 shares during the period. Vest Financial LLC’s holdings in Powell Industries were worth $3,289,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Diversify Advisory Services LLC acquired a new position in shares of Powell Industries during the 3rd quarter worth $255,000. IFP Advisors Inc grew its position in Powell Industries by 55.5% during the third quarter. IFP Advisors Inc now owns 2,011 shares of the industrial products company’s stock worth $371,000 after buying an additional 718 shares during the period. Howard Capital Management Group LLC increased its holdings in Powell Industries by 38.9% in the third quarter. Howard Capital Management Group LLC now owns 2,500 shares of the industrial products company’s stock valued at $461,000 after buying an additional 700 shares in the last quarter. Meridian Investment Counsel Inc. purchased a new position in Powell Industries in the third quarter valued at about $325,000. Finally, GAMMA Investing LLC lifted its position in shares of Powell Industries by 6.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,773 shares of the industrial products company’s stock valued at $512,000 after acquiring an additional 170 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

POWL has been the topic of several research analyst reports. Weiss Ratings lowered Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. lowered their target price on Powell Industries from $300.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Cantor Fitzgerald restated a “neutral” rating and issued a $235.00 price target on shares of Powell Industries in a research report on Thursday, October 1st. Finally, Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two equities 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.92.

Powell Industries Trading Up 0.2%

Powell Industries stock opened at $150.95 on Friday. The stock has a fifty day moving average price of $183.64 and a 200 day moving average price of $231.43. Powell Industries, Inc. has a 52 week low of $92.59 and a 52 week high of $328.00. The firm has a market capitalization of $5.50 billion, a P/E ratio of 28.97, a PEG ratio of 1.57 and a beta of 1.17.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The company had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. During the same period in the prior year, the company earned $3.96 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th were 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 was Wednesday, August 19th. Powell Industries’s dividend payout ratio (DPR) is 6.91%.

Insider Buying and Selling at Powell Industries

In other news, VP Marshall Jr sold 301 shares of the business’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total transaction of $56,488.67. Following the completion of the sale, the vice president owned 10,552 shares in the company, valued at approximately $1,980,293.84. The trade was a 2.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Cope sold 4,799 shares of Powell Industries stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total transaction of $900,628.33. Following the transaction, the chief executive officer owned 507,934 shares in the company, valued at $95,323,973.78. The trade was a 0.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,800 shares of company stock worth $1,074,115 in the last quarter. 2.20% of the stock is owned by insiders.

Powell Industries Profile

Powell Industries, Inc is a Houston-based manufacturer of custom-engineered electrical equipment and systems used to control, distribute and monitor electrical power. The company serves industrial and utility customers that require equipment designed for demanding operating environments, including facilities with high-voltage, hazardous or highly regulated applications.

Its product portfolio includes medium- and high-voltage metal-clad switchgear, motor control centers, electrical houses and enclosures, control panels, switchboards, bus systems and related protection and control equipment.