UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 56,901 Shares of Powell Industries, Inc. $POWL

Key Points

• UBS Asset Management increased its Powell Industries stake by 229.2% in the second quarter, acquiring 56,901 shares and bringing its holdings to 81,723 shares valued at approximately $23.4 million. Institutional investors collectively own 89.77% of the company.
• Powell Industries reported quarterly revenue of $311.74 million, up 8.9% year over year, but earnings of $1.42 per share missed analysts’ $1.49 estimate. Shares opened at $181.17, while the stock’s consensus analyst rating remains “Moderate Buy” with a $215.42 target price.
• The company declared a quarterly dividend of $0.09 per share, equivalent to an annualized $0.36 payout and a 0.2% yield. Meanwhile, insiders sold 42,898 shares worth $12.35 million during the last quarter, including sales by the CEO and executive vice president.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 229.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,723 shares of the industrial products company's stock after acquiring an additional 56,901 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Powell Industries worth $23,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Alps Advisors Inc. increased its stake 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 worth $510,000 after buying an additional 18 shares during the period. Sequoia Financial Advisors LLC grew 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 worth $219,000 after acquiring an additional 25 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Powell Industries by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company's stock valued at $440,000 after acquiring an additional 27 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Powell Industries by 3.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,009 shares of the industrial products company's stock worth $546,000 after purchasing an additional 34 shares during the period. Finally, Wealthfront Advisers LLC grew its stake in shares of Powell Industries by 5.4% in the first quarter. Wealthfront Advisers LLC now owns 697 shares of the industrial products company's stock worth $377,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.

Powell Industries Stock Up 3.4%

Shares of POWL opened at $181.17 on Friday. Powell Industries, Inc. has a twelve month low of $86.36 and a twelve month high of $328.00. The company has a market capitalization of $6.60 billion, a P/E ratio of 34.77, a price-to-earnings-growth ratio of 2.33 and a beta of 1.18. The firm has a 50 day moving average of $216.71 and a 200 day moving average of $230.49.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The business had revenue of $311.74 million for the quarter, compared to analysts' expectations of $316.70 million. During the same quarter in the prior year, the business posted $3.96 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts expect that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 0.2%. Powell Industries's dividend payout ratio (DPR) is currently 6.91%.

Analysts Set New Price Targets

A number of research analysts have commented on POWL shares. Zacks Research lowered Powell Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Glj Research upgraded Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Cantor Fitzgerald reduced their price target on shares of Powell Industries from $320.00 to $235.00 and set a "neutral" rating on the stock in a research report on Friday, August 14th. Finally, Weiss Ratings cut Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $215.42.

Insiders Place Their Bets

In other news, CEO Brett Cope sold 4,440 shares of the firm's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the transaction, the chief executive officer directly owned 517,233 shares in the company, valued at $124,937,631.15. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Metcalf sold 4,500 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the transaction, the executive vice president owned 78,900 shares in the company, valued at approximately $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 42,898 shares of company stock valued at $12,353,653. Company insiders own 2.20% of the company's stock.

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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