VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Powell Industries, Inc. $POWL

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, Holdings Channel.com reports. The fund bought 9,160 shares of the industrial products company’s stock, valued at approximately $2,623,000.

A number of other large investors have also added to or reduced their stakes in POWL. Greenline Wealth Management LLC bought a new stake in shares of Powell Industries in the 4th quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB lifted its position in Powell Industries by 183.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 68 shares during the last quarter. Allworth Financial LP purchased a new stake in Powell Industries during the second quarter valued at approximately $33,000. State of Wyoming acquired a new stake in Powell Industries in the second quarter valued at approximately $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Powell Industries in the second quarter valued at approximately $34,000. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Stock Down 1.9%

POWL stock opened at $176.89 on Friday. The firm has a 50 day moving average of $209.55 and a 200 day moving average of $230.68. The stock has a market capitalization of $6.44 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 2.40 and a beta of 1.18. Powell Industries, Inc. has a 52 week low of $92.30 and a 52 week 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 analysts’ consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.96 EPS. On average, equities research analysts expect that Powell Industries, Inc. will post 5.36 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s payout ratio is 6.91%.

Insider Activity at Powell Industries

In related news, EVP Michael Metcalf sold 4,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the transaction, the executive vice president directly owned 78,900 shares of the company’s stock, valued at $22,458,096. This represents a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Cope sold 4,440 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of the transaction, the chief executive officer owned 517,233 shares of the company’s stock, valued at $124,937,631.15. This trade represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,898 shares of company stock valued at $12,353,653 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on POWL shares. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Finally, Cantor Fitzgerald reduced their target price on Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $215.42.

About Powell Industries

Powell Industries, Inc designs, manufactures and services equipment and systems used to control, monitor and distribute electrical power. Its offerings include medium- and low-voltage switchgear, motor control centers, power control rooms, modular power systems, circuit breakers, bus systems, protective relays and related automation and control solutions.

The company provides engineered electrical systems for industrial and infrastructure applications, including oil and gas, petrochemical, chemical, utility, mining, transportation and other heavy industries.