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

Peterson Wealth Services grew its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 221.7% in the fourth quarter, Holdings Channel reports. The fund owned 3,535 shares of the industrial products company’s stock after acquiring an additional 2,436 shares during the quarter. Peterson Wealth Services’ holdings in Powell Industries were worth $1,127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of POWL. Avanza Fonder AB bought a new position in shares of Powell Industries during the 4th quarter valued at approximately $30,000. State of Wyoming bought a new position in shares of Powell Industries during the 2nd quarter valued at approximately $33,000. First Horizon Corp bought a new position in shares of Powell Industries during the 4th quarter valued at approximately $40,000. Larson Financial Group LLC grew its position in shares of Powell Industries by 12,800.0% during the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 128 shares during the period. Finally, Huntington National Bank grew its position in shares of Powell Industries by 74.0% during the 4th quarter. Huntington National Bank now owns 134 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 57 shares during the period. 89.77% of the stock is owned by institutional investors.

Powell Industries Trading Up 10.7%

Shares of POWL stock opened at $290.50 on Friday. The stock has a market capitalization of $10.58 billion, a P/E ratio of 56.85, a PEG ratio of 3.43 and a beta of 1.11. The firm’s 50 day moving average is $264.10 and its 200 day moving average is $188.10. Powell Industries, Inc. has a 12 month low of $56.70 and a 12 month high of $328.00.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The business had revenue of $296.62 million for the quarter, compared to analysts’ expectations of $298.12 million. During the same quarter in the previous year, the company posted $3.81 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts predict that Powell Industries, Inc. will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is presently 7.05%.

Insider Transactions at Powell Industries

In other Powell Industries news, Director Richard E. Williams sold 5,250 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $299.19, for a total value of $1,570,747.50. Following the completion of the transaction, the director directly owned 39,630 shares of the company’s stock, valued at $11,856,899.70. This trade represents a 11.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael William Metcalf sold 9,000 shares of the firm’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $176.00, for a total transaction of $1,584,000.00. Following the completion of the transaction, the executive vice president directly owned 83,400 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 174,964 shares of company stock worth $31,339,200. 2.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on POWL. 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. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Glj Research assumed coverage on shares of Powell Industries in a research note on Thursday, March 5th. They set a “hold” rating and a $150.00 price target on the stock. Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued 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 target price of $236.67.

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.