Advisors Management Group Inc. ADV Has $9.95 Million Position in Powell Industries, Inc. $POWL

Advisors Management Group Inc. ADV cut its position in Powell Industries, Inc. (NASDAQ:POWL) by 29.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,381 shares of the industrial products company’s stock after selling 7,750 shares during the quarter. Powell Industries comprises about 1.8% of Advisors Management Group Inc. ADV’s portfolio, making the stock its 13th biggest holding. Advisors Management Group Inc. ADV’s holdings in Powell Industries were worth $9,945,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in POWL. Royal Bank of Canada increased its position in Powell Industries by 1.5% during the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock worth $5,251,000 after buying an additional 461 shares during the period. NewEdge Advisors LLC boosted its position in shares of Powell Industries by 7.9% in the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock valued at $1,075,000 after acquiring an additional 461 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Powell Industries by 1,221.0% in the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 1,282 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Powell Industries by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock valued at $4,841,000 after acquiring an additional 1,311 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Powell Industries by 6.2% in the second quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock valued at $6,548,000 after acquiring an additional 1,822 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

POWL has been the topic of a number of recent research reports. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Cantor Fitzgerald increased their target price on shares of Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.67.

Insider Buying and Selling

In other news, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the completion of the sale, the executive vice president owned 78,900 shares of the company’s stock, valued at approximately $22,458,096. This represents a 5.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer owned 517,233 shares in the company, valued at $124,937,631.15. This represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 55,088 shares of company stock worth $16,070,066. 2.20% of the stock is owned by company insiders.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $232.19 on Friday. The stock has a market capitalization of $8.46 billion, a P/E ratio of 45.44, a PEG ratio of 3.09 and a beta of 1.13. The stock’s fifty day moving average is $283.79 and its 200 day moving average is $211.72. Powell Industries, Inc. has a 52 week low of $68.33 and a 52 week high of $328.00.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data 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 firm had revenue of $296.62 million for 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 company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.81 EPS. Equities research analysts forecast that Powell Industries, Inc. will post 5.47 earnings per share for the current year.

Powell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a $0.09 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s payout ratio is presently 7.05%.

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.