Concurrent Investment Advisors LLC Acquires 15,954 Shares of Powell Industries, Inc. $POWL

Key Points

• Concurrent Investment Advisors increased its Powell Industries stake by 782.4% in the second quarter, acquiring 15,954 additional shares for a total holding worth approximately $5.15 million. Institutional investors collectively own 89.77% of the company.
• Analyst sentiment remains moderately bullish, with a consensus rating of “Moderate Buy” and a $215.42 price target, although some firms recently downgraded the stock or lowered their targets.
• Powell Industries reported quarterly EPS of $1.42, below the $1.49 consensus estimate, while revenue of $311.74 million also missed expectations. Shares opened at $181.17, well below their 52-week high of $328.00.

Concurrent Investment Advisors LLC raised its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 782.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,993 shares of the industrial products company's stock after acquiring an additional 15,954 shares during the period. Concurrent Investment Advisors LLC's holdings in Powell Industries were worth $5,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Powell Industries in the second quarter valued at approximately $1,033,376,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Powell Industries by 1,230,312.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company's stock worth $247,106,000 after acquiring an additional 775,097 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Powell Industries during the second quarter worth $93,845,000. Bank of New York Mellon Corp acquired a new stake in shares of Powell Industries during the second quarter worth $60,389,000. Finally, Bank of America Corp DE acquired a new stake in shares of Powell Industries during the second quarter worth $54,335,000. 89.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

POWL has been the topic of several research reports. Zacks Research cut shares of Powell Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Weiss Ratings downgraded Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Glj Research upgraded Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Finally, Cantor Fitzgerald reduced their price objective on Powell Industries from $320.00 to $235.00 and set a "neutral" rating for the company in a research report on Friday, August 14th. Two investment 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.42.

Powell Industries Price Performance

Powell Industries stock opened at $181.17 on Monday. The firm has a 50-day moving average of $216.71 and a 200-day moving average of $230.74. Powell Industries, Inc. has a one year low of $86.36 and a one year high of $328.00. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 34.77, a P/E/G ratio of 2.41 and a beta of 1.18.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 earnings per share 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 the consensus estimate of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. Powell Industries's revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be paid 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 (DPR) is currently 6.91%.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, EVP Michael Metcalf sold 4,500 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 78,900 shares of the company's stock, valued at $22,458,096. The trade was a 5.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Cope sold 4,440 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 517,233 shares in the company, valued at $124,937,631.15. This trade 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 sold a total of 42,898 shares of company stock worth $12,353,653 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

About Powell Industries

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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