Nicholas Investment Partners LP bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 58,444 shares of the industrial products company's stock, valued at approximately $16,736,000. Nicholas Investment Partners LP owned about 0.16% of Powell Industries at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital World Investors acquired a new position in Powell Industries during the 4th quarter worth about $20,704,000. Private Advisory Group LLC bought a new stake in shares of Powell Industries in the 2nd quarter valued at about $14,158,000. Voss Capital LP increased its stake in shares of Powell Industries by 18.6% in the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company's stock valued at $111,573,000 after buying an additional 55,000 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of Powell Industries in the fourth quarter valued at about $1,409,000. Finally, Rock Creek Group LP raised its position in shares of Powell Industries by 1,900.0% during the fourth quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company's stock worth $47,817,000 after acquiring an additional 142,500 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently commented on POWL. JPMorgan Chase & Co. upped their target price on Powell Industries from $310.00 to $360.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Zacks Research lowered shares of Powell Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Glj Research upgraded shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Weiss Ratings lowered shares of Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Finally, Cantor Fitzgerald decreased their price objective on shares of Powell Industries from $320.00 to $235.00 and set a "neutral" rating for the company in a research report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $215.42.
Get Our Latest Research Report on POWL
Powell Industries Price Performance
Shares of NASDAQ:POWL opened at $188.98 on Tuesday. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 36.27, a P/E/G ratio of 2.63 and a beta of 1.18. The business's 50-day moving average is $237.26 and its 200-day moving average is $231.28. Powell Industries, Inc. has a 1 year low of $83.85 and a 1 year high of $328.00.
Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The company had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. During the same period last year, the business earned $3.96 EPS. The business's quarterly revenue was up 8.9% compared to the same quarter last year. Analysts anticipate that Powell Industries, Inc. will post 5.36 EPS for the current year.
Powell Industries Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Powell Industries's dividend payout ratio (DPR) is presently 6.91%.
Insider Buying and Selling at Powell Industries
In other news, EVP Michael William Metcalf sold 4,500 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the transaction, the executive vice president owned 78,900 shares of the company's stock, valued at $22,458,096. This represents a 5.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the transaction, the chief executive officer directly owned 517,233 shares in the company, valued at $124,937,631.15. This trade represents a 0.85% 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. Over the last ninety days, insiders sold 42,898 shares of company stock valued at $12,353,653. Corporate insiders own 2.20% of the company's stock.
About Powell Industries
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding POWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Powell Industries, Inc. (NASDAQ:POWL - Free Report).
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