OneDigital Investment Advisors LLC Purchases Shares of 4,072 Powell Industries, Inc. $POWL

OneDigital Investment Advisors LLC acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,072 shares of the industrial products company’s stock, valued at approximately $1,166,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of POWL. Greenline Wealth Management LLC acquired a new position in Powell Industries in the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB lifted its stake in Powell Industries by 183.8% during the 2nd 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 period. State of Wyoming acquired a new stake in Powell Industries during the 2nd quarter valued at approximately $33,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Powell Industries by 126.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 63 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in shares of Powell Industries in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Price Performance

NASDAQ:POWL opened at $218.73 on Tuesday. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 2.84 and a beta of 1.18. The company has a 50 day moving average price of $246.24 and a 200-day moving average price of $229.59. Powell Industries, Inc. has a 1-year low of $78.50 and a 1-year high of $328.00.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The firm had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. During the same quarter in the prior year, the firm earned $3.96 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that Powell Industries, Inc. will post 5.36 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

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

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 33,958 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the sale, the insider directly owned 564,736 shares of the company’s stock, valued at $166,309,104.64. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael William Metcalf sold 4,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 78,900 shares in the company, valued at $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on POWL. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings cut Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Cantor Fitzgerald lowered their target price on Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $215.42.

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.