Assetmark Inc. Decreases Stake in Powell Industries, Inc. $POWL

Assetmark Inc. lowered its position in Powell Industries, Inc. (NASDAQ:POWL) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,497 shares of the industrial products company’s stock after selling 1,295 shares during the quarter. Assetmark Inc.’s holdings in Powell Industries were worth $2,840,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in POWL. Brooklyn Investment Group lifted its stake in Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 108 shares during the last quarter. Harbour Investments Inc. lifted its stake in Powell Industries by 1,970.0% in the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 197 shares during the last quarter. Morgan Dempsey Capital Management LLC purchased a new position in Powell Industries in the second quarter worth approximately $52,000. Optimum Investment Advisors lifted its stake in Powell Industries by 114.3% in the second quarter. Optimum Investment Advisors now owns 300 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 160 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in Powell Industries by 472.0% in the first quarter. AlphaQuest LLC now owns 429 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $312.00.

Insiders Place Their Bets

In other news, EVP Michael William Metcalf sold 3,200 shares of Powell Industries stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total value of $955,968.00. Following the transaction, the executive vice president directly owned 25,700 shares of the company’s stock, valued at $7,677,618. The trade was a 11.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Birchall sold 3,000 shares of Powell Industries stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction of $780,090.00. Following the completion of the transaction, the director directly owned 6,700 shares in the company, valued at $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.20% of the company’s stock.

Powell Industries Trading Up 1.9%

Shares of NASDAQ:POWL opened at $390.70 on Tuesday. The firm has a 50 day simple moving average of $310.98 and a 200-day simple moving average of $242.54. The company has a market capitalization of $4.72 billion, a PE ratio of 27.13, a P/E/G ratio of 1.95 and a beta of 0.82. Powell Industries, Inc. has a twelve month low of $146.02 and a twelve month high of $413.00.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.23. The business had revenue of $286.27 million for the quarter, compared to analysts’ expectations of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $3.79 EPS. As a group, equities research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

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.