Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in Powell Industries, Inc. $POWL

Key Points

• Empirical Financial Services LLC has purchased 1,151 shares of Powell Industries, valued at approximately $242,000, indicating growing institutional interest in the company.
• Powell Industries recently reported earnings of $3.96 per share, surpassing analysts' expectations, although revenue saw a slight decline compared to the previous year.
• According to analysts, Powell Industries has a consensus rating of "Buy" and an average price target of $312.00.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,151 shares of the industrial products company's stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Powell Industries by 1.4% during the first quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company's stock valued at $118,871,000 after acquiring an additional 9,829 shares in the last quarter. Demars Financial Group LLC bought a new position in Powell Industries in the 1st quarter valued at $58,692,000. Invesco Ltd. grew its position in shares of Powell Industries by 4.1% during the 1st quarter. Invesco Ltd. now owns 275,979 shares of the industrial products company's stock valued at $47,008,000 after purchasing an additional 10,840 shares in the last quarter. New Vernon Capital Holdings II LLC purchased a new position in shares of Powell Industries during the 1st quarter valued at $34,554,000. Finally, GW&K Investment Management LLC bought a new position in shares of Powell Industries in the first quarter worth $27,984,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Powell Industries in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $312.00.

Powell Industries Stock Performance

NASDAQ POWL opened at $311.70 on Tuesday. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $364.98. The company has a fifty day moving average of $271.20 and a 200-day moving average of $218.18. The company has a market capitalization of $3.76 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.46 and a beta of 0.82.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.73 by $0.23. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The business had revenue of $286.27 million for the quarter, compared to the consensus estimate of $301.69 million. During the same quarter last year, the business posted $3.79 earnings per share. The company's revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th were paid a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.07 annualized dividend and a yield of 0.3%. Powell Industries's dividend payout ratio is currently 7.43%.

Insider Buying and Selling

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of Powell Industries stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total transaction of $955,968.00. Following the transaction, the executive vice president directly owned 25,700 shares of the company's stock, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Birchall sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following the completion of the sale, the director owned 6,700 shares of the company's stock, valued at approximately $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

Powell Industries Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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