Roman Butler Fullerton & Co. Makes New $2.18 Million Investment in Powell Industries, Inc. $POWL

Key Points

• Roman Butler Fullerton & Co. acquired 9,653 Powell Industries shares worth approximately $2.18 million in the second quarter. Institutional investors collectively own about 89.77% of the company.
• Powell Industries reported quarterly revenue of $311.74 million, up 8.9% year over year, but missed analyst expectations on both revenue and earnings, posting EPS of $1.42 versus the $1.49 consensus.
• The company declared a quarterly dividend of $0.09 per share, equivalent to an annualized yield of approximately 0.2%. Analysts maintain an average “Buy” rating with a $215.42 price target, while insiders have sold more than $12.35 million of stock over the past 90 days.

Roman Butler Fullerton & Co. purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,653 shares of the industrial products company's stock, valued at approximately $2,178,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Alps Advisors Inc. boosted its position in shares of Powell Industries by 1.1% in the fourth quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company's stock valued at $510,000 after acquiring an additional 18 shares during the period. CWM LLC raised its stake in Powell Industries by 2.0% during the 4th quarter. CWM LLC now owns 1,219 shares of the industrial products company's stock valued at $389,000 after purchasing an additional 24 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Powell Industries by 3.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company's stock valued at $219,000 after purchasing an additional 25 shares during the period. Maryland State Retirement & Pension System boosted its holdings in Powell Industries by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company's stock valued at $440,000 after purchasing an additional 27 shares during the period. Finally, Cornerstone Investment Partners LLC boosted its holdings in Powell Industries by 1.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,911 shares of the industrial products company's stock valued at $609,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Price Performance

POWL stock opened at $213.48 on Monday. The business has a fifty day moving average price of $247.73 and a 200 day moving average price of $229.09. Powell Industries, Inc. has a fifty-two week low of $78.50 and a fifty-two week high of $328.00. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 40.98, a P/E/G ratio of 2.84 and a beta of 1.18.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted 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). 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 during the quarter, compared to analyst estimates of $316.70 million. During the same period in the prior year, the firm posted $3.96 EPS. Powell Industries's revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts expect that Powell Industries, Inc. will post 5.36 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.09 per share. 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 currently 6.91%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Powell Industries news, CEO Brett Alan Cope sold 4,440 shares of the firm'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 in the company, valued at approximately $124,937,631.15. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the business's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the completion of the transaction, the insider directly owned 564,736 shares of the company's stock, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 42,898 shares of company stock valued at $12,353,653 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Powell Industries Profile

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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