Roman Butler Fullerton & Co. Boosts Holdings in Powell Industries, Inc. $POWL

Roman Butler Fullerton & Co. raised its position in Powell Industries, Inc. (NASDAQ:POWL) by 201.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,641 shares of the industrial products company’s stock after purchasing an additional 6,448 shares during the period. Powell Industries accounts for 1.4% of Roman Butler Fullerton & Co.’s investment portfolio, making the stock its 13th biggest position. Roman Butler Fullerton & Co.’s holdings in Powell Industries were worth $5,217,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in POWL. Royal Bank of Canada raised its position in shares of 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 buying an additional 461 shares in the last quarter. NewEdge Advisors LLC grew its position 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 buying an additional 461 shares in the last quarter. Jones Financial Companies Lllp increased its stake in 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 acquiring an additional 1,282 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Powell Industries by 4.8% in 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 acquiring an additional 1,311 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Powell Industries by 6.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock valued at $6,548,000 after acquiring an additional 1,822 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $236.58 on Friday. Powell Industries, Inc. has a 52-week low of $68.33 and a 52-week high of $328.00. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 46.30, a price-to-earnings-growth ratio of 3.03 and a beta of 1.13. The company has a fifty day moving average of $284.21 and a 200-day moving average of $211.57.

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

Powell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were issued a $0.09 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s payout ratio is currently 7.05%.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 33,958 shares of Powell Industries stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total value of $10,000,291.42. Following the transaction, the insider directly owned 564,736 shares of the company’s stock, valued at $166,309,104.64. The trade was a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael William Metcalf sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the sale, the executive vice president owned 78,900 shares of the company’s stock, valued at $22,458,096. The trade was a 5.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 50,648 shares of company stock worth $14,997,584 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

POWL has been the topic of several research analyst reports. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Cantor Fitzgerald increased their price target on shares of Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their target price on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.67.

Powell Industries 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.