Deutsche Bank AG purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 64,822 shares of the industrial products company's stock, valued at approximately $18,562,000. Deutsche Bank AG owned 0.18% of Powell Industries as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Greenline Wealth Management LLC purchased a new stake in Powell Industries in the fourth quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Powell Industries by 183.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company's stock worth $30,000 after buying an additional 68 shares during the period. State of Wyoming acquired a new stake in shares of Powell Industries in the second quarter valued at $33,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Powell Industries in the 2nd quarter valued at $34,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company's stock worth $36,000 after acquiring an additional 63 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.
Powell Industries Trading Up 0.1%
NASDAQ POWL opened at $197.67 on Friday. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 2.63 and a beta of 1.18. The business's 50 day moving average is $239.55 and its two-hundred day moving average is $230.43. Powell Industries, Inc. has a 12-month low of $83.02 and a 12-month high of $328.00.
Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly 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). Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The business had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. During the same period in the prior year, the business earned $3.96 earnings per share. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. Equities analysts forecast that Powell Industries, Inc. will post 5.36 earnings per share for the current fiscal year.
Powell Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. Powell Industries's dividend payout ratio (DPR) is 6.91%.
Insiders Place Their Bets
In other Powell Industries news, CEO Brett Alan Cope sold 4,440 shares of the business's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer directly owned 517,233 shares in the company, valued at approximately $124,937,631.15. The trade was a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the company's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the transaction, the insider directly owned 564,736 shares in the company, valued at approximately $166,309,104.64. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 42,898 shares of company stock worth $12,353,653. Corporate insiders own 2.20% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Zacks Research cut shares of Powell Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Cantor Fitzgerald dropped their target price on Powell Industries from $320.00 to $235.00 and set a "neutral" rating on the stock in a report on Friday, August 14th. Glj Research raised shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Weiss Ratings cut Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Two investment 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 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.
Check Out Our Latest Report on Powell Industries
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.
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