NewEdge Advisors LLC lifted its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 146.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 26,941 shares of the industrial products company's stock after buying an additional 15,990 shares during the period. NewEdge Advisors LLC owned 0.07% of Powell Industries worth $7,715,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenline Wealth Management LLC purchased a new stake in Powell Industries in the 4th quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB grew its holdings in Powell Industries by 183.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 68 shares during the period. Allworth Financial LP acquired a new position in Powell Industries during the second quarter worth approximately $33,000. State of Wyoming purchased a new position in Powell Industries during the second quarter worth approximately $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Powell Industries in the 2nd quarter valued at $34,000. 89.77% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CEO Brett Cope sold 4,440 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Metcalf sold 4,500 shares of the stock in a transaction dated 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 directly owned 78,900 shares in the company, valued at $22,458,096. The trade was a 5.40% 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. In the last three months, insiders sold 42,898 shares of company stock worth $12,353,653. 2.20% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on POWL. Glj Research raised Powell Industries from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Cantor Fitzgerald decreased their target price on Powell Industries from $320.00 to $235.00 and set a "neutral" rating for the company in a report on Friday, August 14th. Finally, Weiss Ratings cut shares of Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Powell Industries presently has a consensus rating of "Moderate Buy" and an average price target of $215.42.
Get Our Latest Report on POWL
Powell Industries Trading Up 3.2%
Shares of POWL stock opened at $182.50 on Friday. The firm has a fifty day simple moving average of $208.28 and a 200-day simple moving average of $230.35. The company has a market capitalization of $6.65 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 2.43 and a beta of 1.18. Powell Industries, Inc. has a twelve month low of $92.30 and a twelve month high of $328.00.
Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.07). The firm had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.96 EPS. Equities research analysts predict that Powell Industries, Inc. will post 5.36 EPS for the current year.
Powell Industries Announces Dividend
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 given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Powell Industries's dividend payout ratio is presently 6.91%.
Powell Industries Company Profile
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Free Report)
Powell Industries, Inc designs, manufactures and services equipment and systems used to control, monitor and distribute electrical power. Its offerings include medium- and low-voltage switchgear, motor control centers, power control rooms, modular power systems, circuit breakers, bus systems, protective relays and related automation and control solutions.
The company provides engineered electrical systems for industrial and infrastructure applications, including oil and gas, petrochemical, chemical, utility, mining, transportation and other heavy industries.
Further Reading
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