Advisors Management Group Inc. ADV lowered its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 29.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,381 shares of the industrial products company's stock after selling 7,750 shares during the period. Powell Industries accounts for 1.8% of Advisors Management Group Inc. ADV's holdings, making the stock its 13th biggest position. Advisors Management Group Inc. ADV owned about 0.05% of Powell Industries worth $9,945,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Powell Industries by 1,230,312.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company's stock valued at $247,106,000 after buying an additional 775,097 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new stake in Powell Industries during the third quarter worth $43,515,000. Rock Creek Group LP raised its position 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 acquiring an additional 142,500 shares in the last quarter. Voss Capital LP raised its position in Powell Industries by 59.6% during the third quarter. Voss Capital LP now owns 295,000 shares of the industrial products company's stock worth $89,919,000 after acquiring an additional 110,140 shares in the last quarter. Finally, Capital World Investors acquired a new stake in Powell Industries in the fourth quarter valued at $20,704,000. Institutional investors and hedge funds own 89.77% of the company's stock.
Insider Activity at Powell Industries
In other news, major shareholder Thomas W. Powell sold 33,958 shares of the firm'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 in the company, valued at approximately $166,309,104.64. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael William Metcalf sold 4,500 shares of Powell Industries stock in a transaction dated 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 directly owned 78,900 shares of the company's stock, valued at $22,458,096. The trade was a 5.40% 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 55,088 shares of company stock worth $16,070,066 in the last quarter. 2.20% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on POWL. Zacks Research downgraded shares of Powell Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Powell Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 8th. Texas Capital upgraded shares of Powell Industries to a "strong-buy" rating in a research note on Friday, March 27th. Cantor Fitzgerald lifted their price target on Powell Industries from $160.00 to $320.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Finally, 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 report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $236.67.
View Our Latest Analysis on Powell Industries
Powell Industries Trading Down 1.9%
POWL opened at $232.19 on Friday. Powell Industries, Inc. has a 1-year low of $68.33 and a 1-year high of $328.00. The stock's fifty day simple moving average is $283.79 and its 200 day simple moving average is $211.72. The stock has a market cap of $8.46 billion, a PE ratio of 45.44, a price-to-earnings-growth ratio of 3.09 and a beta of 1.13.
Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The business had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. During the same period in the prior year, the business earned $3.81 EPS. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that Powell Industries, Inc. will post 5.47 earnings per share for the current year.
Powell Industries Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries's dividend payout ratio is presently 7.05%.
Powell Industries Company Profile
(
Free Report)
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.
Further Reading
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