RFG Advisory LLC Makes New $1.01 Million Investment in Powell Industries, Inc. $POWL

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of POWL. Northwestern Mutual Wealth Management Co. raised its position in Powell Industries by 1,230,312.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after purchasing an additional 775,097 shares in the last quarter. First Trust Advisors LP raised its holdings in Powell Industries by 65.8% in the third quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock valued at $187,479,000 after acquiring an additional 244,051 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Powell Industries in the third quarter valued at approximately $43,515,000. Rock Creek Group LP lifted its stake in Powell Industries by 1,900.0% in the fourth quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock worth $47,817,000 after acquiring an additional 142,500 shares during the last quarter. Finally, Voss Capital LP grew its holdings in Powell Industries by 59.6% during the 3rd quarter. Voss Capital LP now owns 295,000 shares of the industrial products company’s stock worth $89,919,000 after acquiring an additional 110,140 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on POWL. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings raised Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.67.

Insider Activity

In other 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 sale, the director owned 39,630 shares in the company, valued at approximately $11,856,899.70. This trade represents a 11.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael William Metcalf sold 9,000 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total transaction of $1,584,000.00. Following the transaction, the executive vice president owned 83,400 shares in the company, valued at approximately $14,678,400. This trade represents 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 quarter, insiders sold 59,588 shares of company stock valued at $16,339,486. 2.20% of the stock is currently owned by company insiders.

Powell Industries Stock Performance

NASDAQ POWL opened at $279.77 on Monday. The firm’s fifty day moving average is $283.11 and its two-hundred day moving average is $202.69. Powell Industries, Inc. has a one year low of $67.44 and a one year high of $328.00. The firm has a market cap of $10.19 billion, a PE ratio of 54.75, a P/E/G ratio of 3.65 and a beta of 1.11.

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

Powell Industries Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s dividend payout ratio is 7.05%.

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.