Wesbanco Bank Inc. Buys 1,800 Shares of Powell Industries, Inc. $POWL

Wesbanco Bank Inc. boosted its stake in Powell Industries, Inc. (NASDAQ:POWL) by 37.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,600 shares of the industrial products company’s stock after buying an additional 1,800 shares during the quarter. Wesbanco Bank Inc.’s holdings in Powell Industries were worth $2,012,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Truist Financial Corp increased its position in Powell Industries by 42.9% during the 3rd quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock valued at $4,585,000 after buying an additional 4,519 shares in the last quarter. Tema Etfs LLC boosted its holdings in Powell Industries by 281.6% in the third quarter. Tema Etfs LLC now owns 53,170 shares of the industrial products company’s stock worth $16,207,000 after acquiring an additional 39,238 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Powell Industries by 6.5% in the third quarter. Stephens Investment Management Group LLC now owns 89,669 shares of the industrial products company’s stock worth $27,332,000 after acquiring an additional 5,455 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Powell Industries by 32.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 56,620 shares of the industrial products company’s stock valued at $17,961,000 after acquiring an additional 14,013 shares in the last quarter. Finally, Littlejohn Financial Services Inc. purchased a new position in shares of Powell Industries in the 3rd quarter worth about $1,078,000. 89.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on POWL. Roth Mkm reissued a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a research report on Wednesday, November 19th. Cantor Fitzgerald upped their target price on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average price target of $415.50.

Powell Industries Stock Up 1.5%

Shares of NASDAQ POWL opened at $570.26 on Wednesday. The firm’s 50-day moving average price is $390.94 and its 200-day moving average price is $332.86. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $593.76. The company has a market cap of $6.92 billion, a PE ratio of 37.05, a PEG ratio of 2.56 and a beta of 0.85.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.55. The firm had revenue of $251.18 million during the quarter, compared to analysts’ expectations of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.86 earnings per share. As a group, equities research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, February 18th. This represents a $1.08 dividend on an annualized basis and a yield of 0.2%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio (DPR) is presently 6.95%.

Insider Buying and Selling at Powell Industries

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $331.73, for a total value of $995,190.00. Following the transaction, the vice president directly owned 4,451 shares in the company, valued at $1,476,530.23. This trade represents a 40.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is owned by insiders.

About Powell Industries

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.