Valeo Financial Advisors LLC Takes Position in Powell Industries, Inc. $POWL

Valeo Financial Advisors LLC acquired a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, HoldingsChannel reports. The fund acquired 3,834 shares of the industrial products company’s stock, valued at approximately $1,098,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenline Wealth Management LLC purchased a new stake in Powell Industries during the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Powell Industries by 183.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock worth $30,000 after buying an additional 68 shares during the last quarter. State of Wyoming bought a new stake in shares of Powell Industries in the second quarter worth $33,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 63 shares during the period. Finally, First Horizon Corp purchased a new stake in Powell Industries during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on POWL shares. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Cantor Fitzgerald raised their price objective on shares of Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings lowered shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Two 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $236.67.

Powell Industries Price Performance

POWL 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 firm has a market cap of $7.55 billion, a P/E ratio of 39.77, a PEG ratio of 2.83 and a beta of 1.18. Powell Industries, Inc. has a 1-year low of $78.50 and a 1-year high of $328.00.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data 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 net margin of 16.49% and a return on equity of 27.51%. The firm 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 business earned $3.96 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts anticipate that Powell Industries, Inc. will post 5.34 earnings per share for the current year.

Powell Industries Dividend Announcement

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

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $294.49, for a total value 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 represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael William Metcalf sold 4,500 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the sale, the executive vice president owned 78,900 shares of the company’s stock, valued at $22,458,096. This represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,588 shares of company stock valued at $15,260,841 in the last ninety days. Insiders own 2.20% of the company’s stock.

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.