Valeo Financial Advisors LLC Invests $1.10 Million in Powell Industries, Inc. $POWL

Valeo Financial Advisors LLC bought a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,834 shares of the industrial products company’s stock, valued at approximately $1,098,000.

Several other hedge funds also recently made changes to their positions in POWL. Alps Advisors Inc. grew its stake in 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 purchasing an additional 18 shares during the period. CWM LLC raised its holdings in 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 in the last quarter. Sequoia Financial Advisors LLC lifted its position in Powell Industries by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $219,000 after buying an additional 25 shares during the period. Maryland State Retirement & Pension System lifted its position in 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 buying an additional 27 shares during the period. Finally, Cornerstone Investment Partners LLC boosted its holdings in shares of Powell Industries by 1.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 1,911 shares of the industrial products company’s stock valued at $609,000 after buying an additional 30 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $207.22 on Tuesday. The company has a 50-day simple moving average of $254.73 and a two-hundred day simple moving average of $227.19. The stock has a market capitalization of $7.55 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18. Powell Industries, Inc. has a 52-week low of $78.50 and a 52-week high of $328.00.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The firm had revenue of $311.74 million for the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.96 EPS. As a group, equities research analysts forecast that Powell Industries, Inc. will post 5.34 EPS for the current fiscal year.

Powell Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

POWL has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald raised their target price on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $236.67.

Insiders Place Their Bets

In other news, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the transaction, the executive vice president directly owned 78,900 shares of the company’s stock, valued at $22,458,096. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the transaction, the insider directly owned 564,736 shares in the company, valued at approximately $166,309,104.64. The trade was a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 52,588 shares of company stock valued at $15,260,841. 2.20% of the stock is currently owned by company 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.