Inspire Investing LLC Invests $1 Million in Powell Industries, Inc. $POWL

Key Points

• Inspire Investing LLC has invested approximately $1 million in Powell Industries, acquiring 4,773 shares of the company during the second quarter.
• Powell Industries reported $3.96 earnings per share for the last quarter, surpassing analysts’ expectations, although revenue decreased slightly compared to the previous year.
• The company's stock has been upgraded from "hold" to "buy" by Weiss Ratings, with an average consensus price target set at $312.00.

Inspire Investing LLC bought a new position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 4,773 shares of the industrial products company's stock, valued at approximately $1,004,000.

A number of other large investors also recently added to or reduced their stakes in POWL. Brooklyn Investment Group raised its position in Powell Industries by 168.8% in the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock worth $29,000 after purchasing an additional 108 shares during the period. Harbour Investments Inc. raised its position in Powell Industries by 1,970.0% in the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock worth $35,000 after purchasing an additional 197 shares during the period. AlphaQuest LLC raised its position in Powell Industries by 472.0% in the 1st quarter. AlphaQuest LLC now owns 429 shares of the industrial products company's stock worth $73,000 after purchasing an additional 354 shares during the period. GAMMA Investing LLC raised its position in Powell Industries by 29.8% in the 1st quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock worth $102,000 after purchasing an additional 138 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in Powell Industries by 138.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 614 shares of the industrial products company's stock worth $105,000 after purchasing an additional 356 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Transactions at Powell Industries

In related news, EVP Michael William Metcalf sold 3,200 shares of the business's stock in a transaction dated 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 owned 25,700 shares in the company, valued at $7,677,618. The trade was a 11.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Birchall sold 3,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction of $780,090.00. Following the transaction, the director owned 6,700 shares in the company, valued at $1,742,201. This represents a 30.93% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Powell Industries Trading Down 2.7%

POWL stock opened at $301.06 on Friday. The firm's 50-day moving average price is $277.41 and its two-hundred day moving average price is $221.25. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $364.98. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.44 and a beta of 0.82.

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

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th were given a $0.2675 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. Powell Industries's payout ratio is presently 7.43%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Powell Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $312.00.

Powell Industries Company 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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