Powell Industries, Inc. $POWL Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 160.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,053 shares of the industrial products company’s stock after purchasing an additional 2,496 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Powell Industries were worth $1,292,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. CWM LLC lifted its stake in shares of Powell Industries by 2.0% during the 4th 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 period. State of Wyoming lifted its stake in shares of Powell Industries by 18.5% during the 3rd 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 period. Ashton Thomas Private Wealth LLC lifted its stake in shares of Powell Industries by 2.8% during the 3rd 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 period. Arizona State Retirement System lifted its stake in shares of Powell Industries by 1.1% during the 3rd 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 period. Finally, Quest Investment Management LLC lifted its stake in shares of Powell Industries by 0.9% during the 3rd quarter. Quest Investment Management LLC now owns 5,002 shares of the industrial products company’s stock worth $1,525,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Transactions at Powell Industries

In related news, Treasurer David L. Eckenrode sold 885 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $190.00, for a total value of $168,150.00. Following the transaction, the treasurer directly owned 1,329 shares of the company’s stock, valued at approximately $252,510. This trade represents a 39.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael William Metcalf sold 9,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 83,400 shares in the company, valued at $14,678,400. This trade represents 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. Over the last quarter, insiders sold 248,688 shares of company stock valued at $44,535,053. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on POWL. JPMorgan Chase & Co. began coverage on Powell Industries in a research note on Monday. They set an “overweight” rating and a $310.00 price target on the stock. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Cantor Fitzgerald increased their price target on Powell Industries from $142.33 to $160.33 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Glj Research began coverage on Powell Industries in a research note on Thursday, March 5th. They set a “hold” rating and a $150.00 price target on the stock. Finally, Zacks Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Powell Industries currently has a consensus rating of “Buy” and an average target price of $184.25.

Powell Industries Trading Up 9.4%

Shares of POWL opened at $277.27 on Friday. The firm has a market capitalization of $10.10 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of 3.25 and a beta of 0.81. The stock’s fifty day simple moving average is $199.57 and its 200 day simple moving average is $153.14. Powell Industries, Inc. has a twelve month low of $54.75 and a twelve month high of $279.56.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, February 3rd. The industrial products company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.18. The business had revenue of $251.18 million for the quarter, compared to analyst estimates of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. Sell-side analysts predict that Powell Industries, Inc. will post 5.57 earnings per share for the current year.

Powell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, February 18th. Powell Industries’s dividend payout ratio (DPR) is 7.02%.

Powell Industries Company 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.