Valmark Advisers Inc. Cuts Holdings in Powell Industries, Inc. $POWL

Valmark Advisers Inc. decreased its stake in Powell Industries, Inc. (NASDAQ:POWL) by 66.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,210 shares of the industrial products company’s stock after selling 2,414 shares during the period. Valmark Advisers Inc.’s holdings in Powell Industries were worth $369,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in POWL. Royal Bank of Canada grew its position in Powell Industries by 1.5% in the first 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 lifted its stake in Powell Industries by 7.9% during 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 last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Powell Industries by 1,221.0% in the 1st 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Powell Industries by 4.8% during the 1st 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 valued at $4,841,000 after purchasing an additional 1,311 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Powell Industries during the 1st quarter valued at about $290,000. 89.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Roth Capital restated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Sunday. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $350.00.

Powell Industries Price Performance

POWL opened at $386.54 on Tuesday. The stock’s 50 day simple moving average is $338.22 and its 200 day simple moving average is $297.65. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.71 and a beta of 0.86. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $413.00.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.46. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.The firm had revenue of $297.98 million during the quarter, compared to the consensus estimate of $292.85 million. During the same quarter in the previous year, the company posted $3.77 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were given a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $1.07 annualized dividend and a yield of 0.3%. Powell Industries’s dividend payout ratio is presently 7.21%.

Insider Transactions at Powell Industries

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the completion of the transaction, the vice president directly owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. This represents a 40.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by company 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.