Sigma Planning Corp Lowers Stock Position in Powell Industries, Inc. $POWL

Sigma Planning Corp cut its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 74.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 991 shares of the industrial products company’s stock after selling 2,830 shares during the quarter. Sigma Planning Corp’s holdings in Powell Industries were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of POWL. Greenline Wealth Management LLC purchased a new stake in shares of Powell Industries during the 4th quarter valued at $29,000. Avanza Fonder AB purchased a new position in Powell Industries in the fourth quarter worth $30,000. Steward Partners Investment Advisory LLC increased its stake in Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 63 shares during the last quarter. First Horizon Corp purchased a new stake in Powell Industries during the fourth quarter valued at about $40,000. Finally, Larson Financial Group LLC raised its position in Powell Industries by 12,800.0% during the fourth quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Down 1.9%

NASDAQ:POWL opened at $228.28 on Tuesday. The firm has a market capitalization of $8.32 billion, a P/E ratio of 44.67, a P/E/G ratio of 3.04 and a beta of 1.13. The company has a fifty day moving average of $275.27 and a 200 day moving average of $217.57. Powell Industries, Inc. has a 52 week low of $69.00 and a 52 week high of $328.00.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The firm had revenue of $296.62 million during the quarter, compared to analysts’ expectations of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. Powell Industries’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.81 EPS. As a group, analysts anticipate that Powell Industries, Inc. will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

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

Insiders Place Their Bets

In related news, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the completion of the transaction, the executive vice president owned 78,900 shares in the company, valued at $22,458,096. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of the sale, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at $124,937,631.15. The trade was a 0.85% decrease in their position. 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. In the last quarter, insiders have sold 55,088 shares of company stock worth $16,070,066. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on POWL. Cantor Fitzgerald upped their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Texas Capital raised Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. increased their price target 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. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $236.67.

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.