Peterson Wealth Services Buys 2,436 Shares of Powell Industries, Inc. $POWL

Peterson Wealth Services raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 221.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,535 shares of the industrial products company’s stock after purchasing an additional 2,436 shares during the period. Peterson Wealth Services’ holdings in Powell Industries were worth $1,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Powell Industries by 1.5% in the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after acquiring an additional 461 shares in the last quarter. NewEdge Advisors LLC lifted its position in Powell Industries by 7.9% in the 1st quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock valued at $1,075,000 after acquiring an additional 461 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Powell Industries by 1,221.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 1,282 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Powell Industries by 4.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock valued at $4,841,000 after acquiring an additional 1,311 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Powell Industries by 6.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock valued at $6,548,000 after acquiring an additional 1,822 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $167.41, for a total value of $25,000,004.94. Following the completion of the sale, the insider directly owned 1,796,082 shares of the company’s stock, valued at approximately $300,682,087.62. This represents a 7.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael William Metcalf sold 9,000 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total transaction of $1,584,000.00. Following the completion of the sale, the executive vice president directly owned 83,400 shares of the company’s stock, valued at $14,678,400. The trade was a 9.74% 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. Insiders sold a total of 174,964 shares of company stock worth $31,339,200 in the last ninety days. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on POWL shares. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Glj Research started coverage on shares of Powell Industries in a research report on Thursday, March 5th. They issued a “hold” rating and a $150.00 price target on the stock. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.67.

Powell Industries Stock Performance

Shares of POWL stock opened at $290.50 on Friday. Powell Industries, Inc. has a 52-week low of $56.70 and a 52-week high of $328.00. The company has a 50-day simple moving average of $264.10 and a two-hundred day simple moving average of $188.10. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 3.43 and a beta of 1.11.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The firm had revenue of $296.62 million during the quarter, compared to the consensus estimate of $298.12 million. During the same period in the previous year, the company posted $3.81 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, May 20th. Powell Industries’s dividend 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.