Private Advisory Group LLC Purchases Shares of 49,440 Powell Industries, Inc. $POWL

Key Points

• Private Advisory Group LLC acquired 49,440 Powell Industries shares worth approximately $14.2 million, while institutional investors collectively own 89.77% of the company.
• Powell Industries’ latest quarterly results fell short of estimates, with EPS of $1.42 versus $1.49 expected and revenue of $311.7 million versus $316.7 million forecast, although revenue increased 8.9% year over year.
• Insiders sold 42,898 shares worth $12.4 million over the past 90 days. Analysts maintain a consensus “Buy” rating with an average price target of $215.42, near the stock’s reported price of $213.48.

Private Advisory Group LLC purchased a new position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 49,440 shares of the industrial products company's stock, valued at approximately $14,158,000. Private Advisory Group LLC owned approximately 0.14% of Powell Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of POWL. Northwestern Mutual Wealth Management Co. raised its position in shares of Powell Industries by 1,230,312.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company's stock valued at $247,106,000 after purchasing an additional 775,097 shares during the last quarter. Vanguard Group Inc. grew its position in Powell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company's stock worth $225,263,000 after purchasing an additional 6,419 shares during the last quarter. State Street Corp grew its position in Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company's stock worth $74,100,000 after purchasing an additional 3,159 shares during the last quarter. Voss Capital LP increased its stake in Powell Industries by 18.6% during the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company's stock valued at $111,573,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Powell Industries by 2.4% during the 3rd quarter. Invesco Ltd. now owns 348,091 shares of the industrial products company's stock valued at $106,102,000 after purchasing an additional 8,083 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Buying and Selling

In related news, EVP Michael William Metcalf sold 4,500 shares of the firm's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the completion of the transaction, the executive vice president owned 78,900 shares of the company's stock, valued at $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the chief executive officer owned 517,233 shares of the company's stock, valued at $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,898 shares of company stock valued at $12,353,653 over the last 90 days. Insiders own 2.20% of the company's stock.

Powell Industries Trading Up 4.6%

Shares of NASDAQ:POWL opened at $213.48 on Friday. Powell Industries, Inc. has a twelve month low of $78.50 and a twelve month high of $328.00. The company's 50 day moving average is $247.73 and its 200 day moving average is $228.48. The company has a market cap of $7.78 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 2.86 and a beta of 1.18.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly 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). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business had revenue of $311.74 million for the quarter, compared to analysts' expectations of $316.70 million. During the same period in the prior year, the business posted $3.96 earnings per share. The business's quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict that Powell Industries, Inc. will post 5.36 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries's dividend payout ratio is presently 6.91%.

Analysts Set New Price Targets

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

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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