Savant Capital LLC Reduces Position in Powell Industries, Inc. $POWL

Savant Capital LLC lessened its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 90.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 647 shares of the industrial products company’s stock after selling 6,023 shares during the quarter. Savant Capital LLC’s holdings in Powell Industries were worth $206,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of POWL. Avanza Fonder AB purchased a new position in shares of Powell Industries during the fourth quarter valued at approximately $30,000. State of Wyoming purchased a new position in shares of Powell Industries during the second quarter valued at approximately $33,000. First Horizon Corp purchased a new position in shares of Powell Industries during the fourth quarter valued at approximately $40,000. Larson Financial Group LLC boosted its position in shares of Powell Industries by 12,800.0% during the fourth quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $41,000 after buying an additional 128 shares during the period. Finally, Huntington National Bank boosted its position in shares of Powell Industries by 74.0% during the fourth quarter. Huntington National Bank now owns 134 shares of the industrial products company’s stock valued at $43,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $284.87 on Monday. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 55.75, a PEG ratio of 3.72 and a beta of 1.11. The stock has a 50 day moving average price of $255.54 and a 200 day moving average price of $182.92. Powell Industries, Inc. has a 52-week low of $56.70 and a 52-week high of $328.00.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The firm had revenue of $296.62 million during the quarter, compared to analysts’ expectations of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.81 EPS. Analysts forecast that Powell Industries, Inc. will post 5.47 earnings per share for the current year.

Powell Industries Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. Powell Industries’s payout ratio is presently 7.05%.

Analysts Set New Price Targets

POWL has been the subject of several recent analyst reports. Glj Research initiated coverage on Powell Industries in a research report on Thursday, March 5th. They set a “hold” rating and a $150.00 target price for the company. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Cantor Fitzgerald boosted their target price on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Texas Capital upgraded Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.67.

Insider Transactions at Powell Industries

In related news, EVP Michael William Metcalf sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total value of $1,584,000.00. Following the completion of the sale, the executive vice president owned 83,400 shares in the company, valued at approximately $14,678,400. The trade was a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $301.00, for a total value of $1,336,440.00. Following the completion of the sale, the chief executive officer owned 490,113 shares of the company’s stock, valued at $147,524,013. The trade was a 0.90% 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 179,404 shares of company stock valued at $32,086,304 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Company Profile

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.