Private Trust Co. NA Grows Stock Position in Powell Industries, Inc. $POWL

Key Points

• Private Trust Co. NA increased its holdings in Powell Industries by 113.8% during the second quarter, owning approximately 0.07% of the company valued at about $1.74 million.
• Powell Industries reported earnings of $3.96 per share for the last quarter, beating estimates, but its revenue was down 0.7% year-over-year.
• After an upgrade by Weiss Ratings, Powell Industries has an average rating of "Buy" with a price target of $312.00.

Private Trust Co. NA raised its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 113.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,279 shares of the industrial products company's stock after buying an additional 4,407 shares during the quarter. Private Trust Co. NA owned about 0.07% of Powell Industries worth $1,742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Powell Industries by 1.4% in the first quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company's stock valued at $118,871,000 after buying an additional 9,829 shares during the last quarter. Invesco Ltd. raised its stake in Powell Industries by 4.1% in the first quarter. Invesco Ltd. now owns 275,979 shares of the industrial products company's stock valued at $47,008,000 after buying an additional 10,840 shares during the last quarter. New Vernon Capital Holdings II LLC purchased a new position in shares of Powell Industries in the first quarter worth about $34,554,000. GW&K Investment Management LLC purchased a new position in shares of Powell Industries in the first quarter worth about $27,984,000. Finally, RPG Investment Advisory LLC raised its stake in shares of Powell Industries by 342.4% in the first quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company's stock worth $26,252,000 after purchasing an additional 119,289 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Down 2.2%

Shares of NASDAQ:POWL opened at $330.71 on Friday. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $364.98. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.62 and a beta of 0.82. The business has a 50-day moving average price of $286.62 and a 200-day moving average price of $226.13.

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

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, August 20th. Powell Industries's dividend payout ratio (DPR) is currently 7.43%.

Insider Activity at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total value of $955,968.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Birchall sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the sale, the director directly owned 6,700 shares in the company, 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 currently owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Powell Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, Powell Industries presently has an average rating of "Buy" and an average price target of $312.00.

About Powell Industries

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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