Concurrent Investment Advisors LLC Buys Shares of 1,557 Powell Industries, Inc. $POWL

Concurrent Investment Advisors LLC purchased a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,557 shares of the industrial products company’s stock, valued at approximately $475,000.

A number of other institutional investors have also made changes to their positions in the stock. Elevation Point Wealth Partners LLC bought a new stake in Powell Industries in the second quarter valued at about $33,000. State of Wyoming acquired a new position in shares of Powell Industries during the 2nd quarter worth about $33,000. Manchester Capital Management LLC increased its stake in shares of Powell Industries by 42.9% in the 2nd quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 60 shares during the last quarter. Virtus Advisers LLC acquired a new stake in shares of Powell Industries in the 2nd quarter valued at approximately $46,000. Finally, Morgan Dempsey Capital Management LLC bought a new position in Powell Industries during the 2nd quarter worth approximately $52,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the sale, the vice president directly owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. This represents a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Finally, Roth Capital reissued a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $350.00.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $419.98 on Tuesday. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.97 and a beta of 0.86. The business has a 50-day moving average of $341.33 and a 200-day moving average of $304.53. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $446.11.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.46. The business had revenue of $297.98 million for the quarter, compared to analyst estimates of $292.85 million. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.Powell Industries’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.77 earnings per share. On average, sell-side analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th were paid a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is currently 7.21%.

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.