Venture Visionary Partners LLC Acquires 28,478 Shares of Powell Industries, Inc. $POWL

Venture Visionary Partners LLC boosted its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 241.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,280 shares of the industrial products company’s stock after buying an additional 28,478 shares during the quarter. Venture Visionary Partners LLC’s holdings in Powell Industries were worth $12,278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Powell Industries by 1.4% in the first quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company’s stock worth $118,871,000 after acquiring an additional 9,829 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Powell Industries by 31.7% during the 2nd quarter. First Trust Advisors LP now owns 371,016 shares of the industrial products company’s stock valued at $78,080,000 after purchasing an additional 89,407 shares during the last quarter. State Street Corp increased its position in Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after purchasing an additional 3,159 shares in the last quarter. Invesco Ltd. lifted its stake in Powell Industries by 23.2% in the 2nd quarter. Invesco Ltd. now owns 340,008 shares of the industrial products company’s stock valued at $71,555,000 after purchasing an additional 64,029 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Powell Industries by 2.5% in the second quarter. Geode Capital Management LLC now owns 237,715 shares of the industrial products company’s stock valued at $50,033,000 after buying an additional 5,725 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

POWL has been the subject of several research analyst reports. Roth Capital reiterated a “buy” rating and set a $350.00 price target on shares of Powell Industries in a report on Wednesday, November 19th. Wall Street Zen upgraded Powell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Powell Industries in a research report on Monday, December 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $350.00.

Insider Buying and Selling

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total transaction of $955,968.00. Following the completion of the sale, the executive vice president owned 25,700 shares of the company’s stock, valued at approximately $7,677,618. This represents a 11.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by insiders.

Powell Industries Stock Down 2.7%

Shares of Powell Industries stock opened at $327.94 on Tuesday. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.58 and a beta of 0.87. Powell Industries, Inc. has a twelve month low of $146.02 and a twelve month high of $413.00. The company’s fifty day moving average is $339.90 and its 200 day moving average is $275.40.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $292.85 million. During the same period in the previous year, the business earned $3.77 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th will be paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Powell Industries’s payout ratio is currently 7.21%.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.