Sigma Planning Corp Has $1.22 Million Holdings in Powell Industries, Inc. $POWL

Key Points

• Sigma Planning Corp cut its stake in Powell Industries by 51.1% in Q4, selling 3,991 shares and leaving 3,821 shares valued at about $1.22 million per its SEC filing.
• Significant insider selling occurred recently: major shareholder Thomas W. Powell sold 149,334 shares for roughly $25 million, and insiders have sold a total of 248,688 shares valued at about $44.54 million over the past 90 days.
• Analyst sentiment is broadly positive with an average rating of Buy and an average price target of $184.25; notable calls include JPMorgan’s $310 target, and the company beat Q4 EPS estimates ($1.13 vs. $0.95) with revenue up 4.1% year-over-year.

Sigma Planning Corp reduced its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 51.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,821 shares of the industrial products company's stock after selling 3,991 shares during the quarter. Sigma Planning Corp's holdings in Powell Industries were worth $1,218,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in POWL. Avanza Fonder AB bought a new position in shares of Powell Industries in the fourth quarter valued at about $30,000. State of Wyoming acquired a new position in Powell Industries in the 2nd quarter valued at about $33,000. First Horizon Corp bought a new position in Powell Industries in the 4th quarter valued at about $40,000. Johnson Financial Group Inc. bought a new position in Powell Industries in the 3rd quarter valued at about $81,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Powell Industries in the third quarter valued at approximately $87,000. Institutional investors own 89.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on POWL. Glj Research started coverage on Powell Industries in a report on Thursday, March 5th. They set a "hold" rating and a $150.00 price target for the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Powell Industries in a research report on Friday, April 24th. JPMorgan Chase & Co. assumed coverage on shares of Powell Industries in a research report on Monday, April 27th. They issued an "overweight" rating and a $310.00 target price for the company. Texas Capital upgraded Powell Industries to a "strong-buy" rating in a research note on Friday, March 27th. Finally, Wall Street Zen lowered shares of Powell Industries from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Powell Industries currently has an average rating of "Buy" and an average price target of $184.25.

Powell Industries Price Performance

Powell Industries stock opened at $275.33 on Monday. The business has a 50 day moving average of $199.57 and a 200-day moving average of $153.81. The company has a market capitalization of $10.03 billion, a P/E ratio of 53.67, a P/E/G ratio of 3.53 and a beta of 1.14. Powell Industries, Inc. has a 1 year low of $54.75 and a 1 year high of $283.33.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.18. The firm had revenue of $251.18 million during the quarter, compared to the consensus estimate of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. Equities analysts anticipate that Powell Industries, Inc. will post 5.57 EPS for the current year.

Powell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $0.36 annualized dividend and a yield of 0.1%. Powell Industries's payout ratio is presently 7.02%.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 149,334 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $167.41, for a total value of $25,000,004.94. Following the sale, the insider owned 1,796,082 shares in the company, valued at approximately $300,682,087.62. The trade was a 7.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brett Alan Cope sold 4,440 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $233.96, for a total value of $1,038,782.40. Following the transaction, the chief executive officer owned 164,851 shares of the company's stock, valued at $38,568,539.96. This trade represents a 2.62% 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 248,688 shares of company stock valued at $44,535,053 over the last 90 days. 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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