Advisors Management Group Inc. ADV Has $8.69 Million Stock Position in Powell Industries, Inc. $POWL

Advisors Management Group Inc. ADV reduced its position in Powell Industries, Inc. (NASDAQ:POWL) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,509 shares of the industrial products company’s stock after selling 6,063 shares during the period. Powell Industries comprises approximately 1.5% of Advisors Management Group Inc. ADV’s holdings, making the stock its 16th largest position. Advisors Management Group Inc. ADV owned approximately 0.24% of Powell Industries worth $8,690,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Elevation Point Wealth Partners LLC purchased a new stake in Powell Industries in the 2nd quarter worth about $33,000. State of Wyoming acquired a new position in shares of Powell Industries in the 2nd quarter valued at about $33,000. Manchester Capital Management LLC lifted its position in shares of Powell Industries by 42.9% in the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 60 shares in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Powell Industries in the second quarter worth approximately $46,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Powell Industries during the third quarter worth approximately $81,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Down 3.8%

POWL stock opened at $502.23 on Thursday. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 32.63, a P/E/G ratio of 2.33 and a beta of 0.82. Powell Industries, Inc. has a 12 month low of $152.89 and a 12 month high of $612.50. The firm has a 50 day moving average of $492.98 and a two-hundred day moving average of $384.00.

Shares of Powell Industries are set to split on Monday, April 6th. The 3-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Sunday, April 5th.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.55. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company had revenue of $251.18 million for the quarter, compared to analyst estimates of $255.34 million. During the same period last year, the company earned $2.86 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. On average, research analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.2%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, February 18th. Powell Industries’s dividend payout ratio is 7.02%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a research note on Wednesday, November 19th. Glj Research began coverage on shares of Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $450.00 price target on the stock. Cantor Fitzgerald upped their price target on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $427.00.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 14,911 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $600.92, for a total value of $8,960,318.12. Following the transaction, the insider directly owned 652,069 shares in the company, valued at approximately $391,841,303.48. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Treasurer David L. Eckenrode sold 295 shares of Powell Industries stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $570.00, for a total transaction of $168,150.00. Following the completion of the transaction, the treasurer owned 443 shares in the company, valued at $252,510. This trade represents a 39.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 31,638 shares of company stock valued at $17,907,456. 2.20% of the stock is owned by corporate insiders.

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.