OneDigital Investment Advisors LLC Purchases New Shares in Powell Industries, Inc. $POWL

OneDigital Investment Advisors LLC purchased a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 4,072 shares of the industrial products company’s stock, valued at approximately $1,166,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenline Wealth Management LLC acquired a new position in Powell Industries during the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Powell Industries by 183.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 68 shares during the period. State of Wyoming acquired a new stake in shares of Powell Industries in the second quarter valued at about $33,000. Steward Partners Investment Advisory LLC increased its stake 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 purchasing an additional 63 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in shares of Powell Industries during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on POWL shares. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald reduced their target price on Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a report on Friday. Weiss Ratings downgraded Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $215.42.

Powell Industries Stock Up 2.5%

Powell Industries stock opened at $218.73 on Tuesday. The company has a fifty day simple moving average of $246.24 and a 200-day simple moving average of $229.59. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 2.84 and a beta of 1.18. Powell Industries, Inc. has a 52-week low of $78.50 and a 52-week high of $328.00.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.07). The business had revenue of $311.74 million during the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.96 earnings per share. On average, research analysts anticipate that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. Powell Industries’s dividend payout ratio is presently 6.91%.

Insider Buying and Selling at Powell Industries

In other news, CEO Brett Alan Cope sold 4,440 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value 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 $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. 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 quarter, insiders sold 42,898 shares of company stock worth $12,353,653. Insiders own 2.20% of the company’s stock.

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.