Wealthfront Advisers LLC Purchases Shares of 4,084 Powell Industries, Inc. $POWL

Wealthfront Advisers LLC acquired 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 SEC. The institutional investor acquired 4,084 shares of the industrial products company’s stock, valued at approximately $1,169,000.

Other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. raised its position 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 in the last quarter. CWM LLC boosted its holdings in Powell Industries by 2.0% during the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock valued at $389,000 after purchasing an additional 24 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of 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 buying an additional 25 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Powell Industries by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock worth $440,000 after buying an additional 27 shares in the last quarter. Finally, Cornerstone Investment Partners LLC lifted its position 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 worth $609,000 after buying an additional 30 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on POWL shares. Cantor Fitzgerald decreased their price target on Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. increased their target price on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Two 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’s stock. According to data from MarketBeat, Powell Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.42.

Powell Industries Stock Performance

Shares of POWL opened at $197.67 on Friday. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 2.63 and a beta of 1.18. The stock has a fifty day moving average price of $239.55 and a two-hundred day moving average price of $230.43. Powell Industries, Inc. has a 52-week low of $83.02 and a 52-week high of $328.00.

Powell Industries (NASDAQ:POWL) last announced 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 return on equity of 27.51% and a net margin of 16.49%.The business had revenue of $311.74 million for the quarter, compared to the consensus estimate of $316.70 million. During the same quarter in the previous year, the company posted $3.96 EPS. Powell Industries’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts predict that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be given a $0.09 dividend. 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 presently 6.91%.

Insiders Place Their Bets

In other news, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were 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 in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 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 stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the sale, the insider directly owned 564,736 shares in the company, valued at $166,309,104.64. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 42,898 shares of company stock valued at $12,353,653. Insiders own 2.20% of the company’s stock.

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.