Journey Strategic Wealth LLC Acquires Shares of 1,065 Powell Industries, Inc. $POWL

Journey Strategic Wealth LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,065 shares of the industrial products company’s stock, valued at approximately $224,000.

Several other institutional investors have also recently made changes to their positions in POWL. Legal & General Group Plc boosted its holdings in Powell Industries by 6.9% in the second quarter. Legal & General Group Plc now owns 27,248 shares of the industrial products company’s stock valued at $5,734,000 after purchasing an additional 1,764 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Powell Industries by 6.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock valued at $6,548,000 after buying an additional 1,822 shares during the period. Entropy Technologies LP purchased a new stake in shares of Powell Industries in the second quarter worth about $316,000. Magnetar Financial LLC purchased a new stake in shares of Powell Industries in the second quarter worth about $1,506,000. Finally, ARS Investment Partners LLC acquired a new stake in Powell Industries during the second quarter worth about $290,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $300.08 on Tuesday. The business’s 50 day moving average price is $329.97 and its 200-day moving average price is $259.14. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $413.00. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.46. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The business had revenue of $297.98 million for the quarter, compared to the consensus estimate of $292.85 million. During the same period last year, the firm posted $3.77 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th will be issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, November 19th. Powell Industries’s payout ratio is presently 7.21%.

Insider Transactions at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following the completion of the sale, the executive vice president directly owned 25,700 shares in the company, valued at approximately $7,677,618. The trade was a 11.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on POWL shares. Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a report on Saturday. Roth Capital reiterated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a report on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Powell Industries presently has an average rating of “Buy” and a consensus target price of $331.00.

Powell Industries Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.