Vise Technologies Inc. Makes New Investment in Powell Industries, Inc. $POWL

Vise Technologies Inc. acquired a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,944 shares of the industrial products company’s stock, valued at approximately $843,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Powell Industries by 1.5% in the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock worth $5,251,000 after acquiring an additional 461 shares in the last quarter. NewEdge Advisors LLC grew its stake in Powell Industries by 7.9% in the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock worth $1,075,000 after purchasing an additional 461 shares during the period. Jones Financial Companies Lllp grew its stake in Powell Industries by 1,221.0% in the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 1,282 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Powell Industries by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock worth $4,841,000 after purchasing an additional 1,311 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Powell Industries by 6.2% in the second quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock worth $6,548,000 after purchasing an additional 1,822 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Transactions at Powell Industries

In related news, EVP Michael William Metcalf sold 4,500 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the sale, the executive vice president directly owned 78,900 shares of the company’s stock, valued at approximately $22,458,096. This represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 dated Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. This represents a 0.85% 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. Insiders sold a total of 42,898 shares of company stock valued at $12,353,653 in the last quarter. 2.20% of the stock is owned by insiders.

Powell Industries Price Performance

POWL stock opened at $197.67 on Monday. The business has a 50 day moving average of $239.55 and a 200 day moving average of $231.02. The firm has a market cap of $7.20 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 2.63 and a beta of 1.18. Powell Industries, Inc. has a twelve month low of $83.02 and a twelve month high of $328.00.

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

Powell Industries Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Powell Industries’s payout ratio is currently 6.91%.

Analysts Set New Price Targets

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

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.