RFG Advisory LLC Buys Shares of 1,863 Powell Industries, Inc. $POWL

RFG Advisory LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,863 shares of the industrial products company’s stock, valued at approximately $1,008,000.

A number of other large investors have also made changes to their positions in POWL. Legato Capital Management LLC purchased a new position in Powell Industries in the third quarter valued at about $693,000. Hel Ved Capital Management Ltd acquired a new stake in shares of Powell Industries in the 3rd quarter worth approximately $1,280,000. Hudson Bay Capital Management LP purchased a new position in Powell Industries in the 3rd quarter valued at approximately $3,098,000. Capital World Investors acquired a new position in Powell Industries during the fourth quarter worth $20,704,000. Finally, Voss Capital LP boosted its position in Powell Industries by 59.6% during the third quarter. Voss Capital LP now owns 295,000 shares of the industrial products company’s stock worth $89,919,000 after purchasing an additional 110,140 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $279.77 on Monday. The company has a market cap of $10.19 billion, a P/E ratio of 54.75, a P/E/G ratio of 3.65 and a beta of 1.11. The business has a fifty day simple moving average of $283.11 and a 200-day simple moving average of $202.69. Powell Industries, Inc. has a 52 week low of $67.44 and a 52 week high of $328.00.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data 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 return on equity of 28.61% and a net margin of 16.51%.The firm had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. During the same quarter in the previous year, the company earned $3.81 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

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

Insider Buying and Selling

In other news, Director Richard E. Williams sold 5,250 shares of Powell Industries stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the sale, the director owned 39,630 shares in the company, valued at $11,856,899.70. This trade represents a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $10,000,291.42. Following the completion of the transaction, the insider owned 564,736 shares of the company’s stock, valued at $166,309,104.64. This trade represents a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,588 shares of company stock valued at $16,339,486 over the last three months. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Glj Research began coverage on shares of Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $150.00 target price for the company. JPMorgan Chase & Co. lifted 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. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Cantor Fitzgerald lifted their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Powell Industries presently has an average rating of “Moderate Buy” and a consensus price target of $236.67.

Powell Industries 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.