Baer Investment Advisory LLC Acquires Shares of 3,303 Powell Industries, Inc. $POWL

Baer Investment Advisory LLC bought a new position in Powell Industries, Inc. (NASDAQ:POWL) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,303 shares of the industrial products company’s stock, valued at approximately $1,787,000.

Other institutional investors also recently modified their holdings of the company. Greenline Wealth Management LLC purchased a new position in shares of Powell Industries during the 4th quarter valued at $29,000. Avanza Fonder AB purchased a new stake in shares of Powell Industries during the fourth quarter worth $30,000. State of Wyoming purchased a new stake in shares of Powell Industries during the second quarter worth $33,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Powell Industries by 126.0% during 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 in the last quarter. Finally, First Horizon Corp acquired a new stake in Powell Industries during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the sale, the insider owned 564,736 shares of the company’s stock, valued at $166,309,104.64. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard E. Williams sold 5,250 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 39,630 shares in the company, valued at approximately $11,856,899.70. The trade was a 11.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 55,088 shares of company stock worth $16,036,366 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Powell Industries Stock Performance

POWL opened at $246.33 on Friday. The stock’s 50 day simple moving average is $285.62 and its 200-day simple moving average is $207.27. The stock has a market cap of $8.97 billion, a PE ratio of 48.21, a P/E/G ratio of 3.22 and a beta of 1.13. Powell Industries, Inc. has a 1 year low of $68.33 and a 1 year high of $328.00.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.09). The firm had revenue of $296.62 million during the quarter, compared to the consensus estimate of $298.12 million. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $3.81 earnings per share. Equities analysts forecast that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

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

Analysts Set New Price Targets

POWL has been the topic of several research reports. Texas Capital raised Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Cantor Fitzgerald boosted their price target on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research report 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. According to MarketBeat.com, Powell Industries presently has an average rating of “Moderate Buy” and an average 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.