Beacon Pointe Advisors LLC Invests $4.40 Million in Powell Industries, Inc. $POWL

Key Points

• Beacon Pointe Advisors initiated a $4.40 million position in Powell Industries during the second quarter, buying 15,379 shares. Institutional investors collectively own 89.77% of the company.
• Powell shares opened at $182.71, down 5.1%, and remained below their 50-day and 200-day moving averages. The company’s latest quarterly results missed estimates, with adjusted EPS of $1.42 versus a $1.49 consensus and revenue of $311.74 million versus $316.70 million expected.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $215.42, while insiders sold $12.35 million of stock over the past 90 days. Powell also declared a quarterly dividend of $0.09 per share, representing a 0.2% yield.

Beacon Pointe Advisors LLC bought a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 15,379 shares of the industrial products company's stock, valued at approximately $4,404,000.

Several other large investors have also modified their holdings of POWL. BlackRock Inc. bought a new stake in Powell Industries in the second quarter valued at about $1,033,376,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Powell Industries by 1,230,312.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company's stock worth $247,106,000 after buying an additional 775,097 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of Powell Industries in the 2nd quarter worth approximately $93,845,000. Bank of New York Mellon Corp acquired a new position in shares of Powell Industries in the 2nd quarter worth approximately $60,389,000. Finally, Bank of America Corp DE bought a new stake in shares of Powell Industries in the 2nd quarter valued at approximately $54,335,000. Institutional investors own 89.77% of the company's stock.

Powell Industries Stock Down 5.1%

POWL stock opened at $182.71 on Friday. The company has a 50-day simple moving average of $228.78 and a 200 day simple moving average of $231.11. The company has a market capitalization of $6.66 billion, a P/E ratio of 35.07, a PEG ratio of 2.43 and a beta of 1.18. Powell Industries, Inc. has a fifty-two week low of $83.85 and a fifty-two week high of $328.00.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The firm's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.96 EPS. Equities analysts anticipate that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Powell Industries's dividend payout ratio is 6.91%.

Insiders Place Their Bets

In other news, CEO Brett Alan Cope sold 4,440 shares of the business's stock in a transaction on 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. The trade was a 0.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael William Metcalf sold 4,500 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the sale, the executive vice president owned 78,900 shares of the company's stock, valued at approximately $22,458,096. This trade represents a 5.40% 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 sold 42,898 shares of company stock worth $12,353,653 over the last ninety days. Company insiders own 2.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on POWL. Weiss Ratings lowered shares of Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Glj Research upgraded shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target 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. Cantor Fitzgerald lowered their price objective on shares of Powell Industries from $320.00 to $235.00 and set a "neutral" rating for the company in a research report on Friday, August 14th. Finally, Zacks Research lowered shares of 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 given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Powell Industries has an average rating of "Moderate Buy" and a consensus target price of $215.42.

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.

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