Expressive Wealth LLC Purchases Shares of 2,751 Powell Industries, Inc. $POWL

Expressive Wealth LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,751 shares of the industrial products company’s stock, valued at approximately $788,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Greenline Wealth Management LLC bought a new position in shares of Powell Industries in the fourth quarter valued at $29,000. MassMutual Private Wealth & Trust FSB raised its position in Powell Industries by 183.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Allworth Financial LP bought a new stake in Powell Industries during the second quarter worth $33,000. State of Wyoming acquired a new stake in Powell Industries in the second quarter valued at $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Powell Industries in the second quarter valued at $34,000. Institutional investors own 89.77% of the company’s stock.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 33,958 shares of Powell Industries stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total value of $10,000,291.42. Following the completion of the transaction, the insider directly owned 564,736 shares of the company’s stock, valued at $166,309,104.64. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 78,900 shares of the company’s stock, valued at approximately $22,458,096. The trade was a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 42,898 shares of company stock worth $12,353,653. Company insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $197.67 on Friday. The firm has a 50-day moving average of $239.55 and a 200-day moving average of $230.43. Powell Industries, Inc. has a 52-week low of $83.02 and a 52-week high of $328.00. The stock has a market cap of $7.20 billion, a PE ratio of 37.94, a PEG ratio of 2.63 and a beta of 1.18.

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

Powell Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.