Powell Industries, Inc. $POWL Shares Purchased by Cypress Asset Management Inc. TX

Key Points

• Cypress Asset Management increased its Powell Industries stake by 200% to 15,330 shares, valued at approximately $4.39 million. Institutional investors own 89.77% of the company.
• Powell Industries shares fell 6.9% to $203.55, below their 50-day moving average. Analysts maintain a consensus “Buy” rating with an average price target of $215.42, although recent targets and ratings have been mixed.
• The company’s latest quarterly results fell short of expectations, with EPS of $1.42 versus $1.49 expected and revenue of $311.74 million versus $316.70 million estimated. Powell also declared a quarterly dividend of $0.09 per share, equivalent to a 0.2% yield.

Cypress Asset Management Inc. TX raised its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 200.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,330 shares of the industrial products company's stock after purchasing an additional 10,220 shares during the quarter. Cypress Asset Management Inc. TX's holdings in Powell Industries were worth $4,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Greenline Wealth Management LLC purchased a new stake in shares of Powell Industries in the fourth quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB raised its position 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 worth $30,000 after acquiring an additional 68 shares in the last quarter. State of Wyoming purchased a new position in Powell Industries in the second quarter worth $33,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Powell Industries in the second quarter valued at $34,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 63 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings cut shares of Powell Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Zacks Research cut shares of Powell Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Glj Research upgraded shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Finally, Cantor Fitzgerald dropped their target price on shares of Powell Industries from $320.00 to $235.00 and set a "neutral" rating for the company in a report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Powell Industries currently has a consensus rating of "Buy" and an average price target of $215.42.

Powell Industries Trading Down 6.9%

Shares of NASDAQ POWL opened at $203.55 on Wednesday. The company's 50-day moving average price is $244.64 and its 200 day moving average price is $229.99. Powell Industries, Inc. has a 52 week low of $78.50 and a 52 week high of $328.00. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 39.07, a PEG ratio of 2.84 and a beta of 1.18.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.07). The business had revenue of $311.74 million for 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 revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.96 EPS. As a group, research 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 announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid 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 is presently 6.91%.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer owned 517,233 shares in the company, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael William Metcalf sold 4,500 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the transaction, the executive vice president directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 42,898 shares of company stock valued at $12,353,653. 2.20% of the stock is 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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