Savant Capital LLC Sells 6,023 Shares of Powell Industries, Inc. $POWL

Key Points

• Savant Capital LLC sharply reduced its Powell Industries stake by 90.3% in the fourth quarter, selling 6,023 shares and leaving it with 647 shares worth about $206,000.
• Insiders have also been selling: VP William Marshall Mauney Jr. sold 2,500 shares and EVP Michael William Metcalf sold 9,000 shares, with insiders unloading 179,404 shares over the last 90 days.
• Powell Industries reported mixed quarterly results, missing EPS and revenue estimates slightly, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $236.67.

Savant Capital LLC cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 90.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 647 shares of the industrial products company's stock after selling 6,023 shares during the quarter. Savant Capital LLC's holdings in Powell Industries were worth $206,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Powell Industries by 2.0% in the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company's stock worth $389,000 after purchasing an additional 24 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Powell Industries by 3.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company's stock worth $219,000 after purchasing an additional 25 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Powell Industries by 2.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company's stock worth $319,000 after purchasing an additional 29 shares during the last quarter. State of Wyoming increased its holdings in shares of Powell Industries by 18.5% in the third quarter. State of Wyoming now owns 186 shares of the industrial products company's stock worth $57,000 after purchasing an additional 29 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Powell Industries by 1.1% in the third quarter. Arizona State Retirement System now owns 2,847 shares of the industrial products company's stock worth $868,000 after purchasing an additional 30 shares during the last quarter. 89.77% of the stock is owned by institutional investors.

Insider Activity at Powell Industries

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 2,500 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $323.69, for a total transaction of $809,225.00. Following the sale, the vice president directly owned 10,853 shares of the company's stock, valued at $3,513,007.57. The trade was a 18.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael William Metcalf sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total value of $1,584,000.00. Following the sale, the executive vice president directly owned 83,400 shares in the company, valued at $14,678,400. The trade was a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 179,404 shares of company stock valued at $32,086,304 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on POWL. Wall Street Zen cut Powell Industries from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Texas Capital raised Powell Industries to a "strong-buy" rating in a report on Friday, March 27th. Zacks Research cut Powell Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on Powell Industries from $310.00 to $360.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, Weiss Ratings raised Powell Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.67.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $284.87 on Monday. The business's 50 day moving average is $255.54 and its two-hundred day moving average is $182.92. Powell Industries, Inc. has a 1-year low of $56.70 and a 1-year high of $328.00. The stock has a market capitalization of $10.38 billion, a P/E ratio of 55.75, a PEG ratio of 3.72 and a beta of 1.11.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The company had revenue of $296.62 million for the quarter, compared to the consensus estimate of $298.12 million. During the same period in the previous year, the firm earned $3.81 earnings per share. The company's revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, May 20th. Powell Industries's payout ratio is presently 7.05%.

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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