Powell Industries, Inc. $POWL Stock Sold by Vest Financial LLC

Vest Financial LLC reduced its stake in Powell Industries, Inc. (NASDAQ:POWL) by 32.3% in the third quarter, HoldingsChannel.com reports. The fund owned 17,827 shares of the industrial products company’s stock after selling 8,514 shares during the quarter. Vest Financial LLC’s holdings in Powell Industries were worth $3,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Diversify Advisory Services LLC bought a new stake in shares of Powell Industries in the 3rd quarter worth approximately $255,000. IFP Advisors Inc grew its stake in Powell Industries by 55.5% during the 3rd quarter. IFP Advisors Inc now owns 2,011 shares of the industrial products company’s stock worth $371,000 after buying an additional 718 shares during the last quarter. Howard Capital Management Group LLC grew its stake in Powell Industries by 38.9% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,500 shares of the industrial products company’s stock worth $461,000 after buying an additional 700 shares during the last quarter. Meridian Investment Counsel Inc. bought a new position in Powell Industries during the 3rd quarter worth $325,000. Finally, GAMMA Investing LLC grew its stake in Powell Industries by 6.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,773 shares of the industrial products company’s stock worth $512,000 after buying an additional 170 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $235.00 target price on shares of Powell Industries in a research report on Thursday, October 1st. Weiss Ratings downgraded shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. lowered their price target on shares of Powell Industries from $300.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, October 13th. Finally, Glj Research upgraded shares of 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, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Powell Industries currently has an average rating of “Moderate Buy” and a consensus price target of $187.92.

Powell Industries Price Performance

POWL opened at $150.95 on Friday. The business has a 50 day moving average price of $183.64 and a two-hundred day moving average price of $231.43. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. Powell Industries, Inc. has a 1-year low of $92.59 and a 1-year high of $328.00.

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

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were issued a $0.09 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is 6.91%.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Cope sold 4,799 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total value of $900,628.33. Following the sale, the chief executive officer directly owned 507,934 shares in the company, valued at approximately $95,323,973.78. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William Marshall Mauney, Jr. sold 301 shares of the business’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total transaction of $56,488.67. Following the completion of the sale, the vice president owned 10,552 shares in the company, valued at approximately $1,980,293.84. This trade represents a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,800 shares of company stock valued at $1,074,115 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Profile

Powell Industries, Inc is a Houston-based manufacturer of custom-engineered electrical equipment and systems used to control, distribute and monitor electrical power. The company serves industrial and utility customers that require equipment designed for demanding operating environments, including facilities with high-voltage, hazardous or highly regulated applications.

Its product portfolio includes medium- and high-voltage metal-clad switchgear, motor control centers, electrical houses and enclosures, control panels, switchboards, bus systems and related protection and control equipment.