Ausbil Investment Management Ltd Purchases 8,963 Shares of Powell Industries, Inc. $POWL

Key Points

• Ausbil Investment Management increased its Powell Industries stake by 133.4% in the third quarter, acquiring 8,963 additional shares for a total holding of 15,682 shares valued at approximately $2.9 million. Institutional investors collectively own 89.77% of the company.
• Powell’s latest quarterly results fell short of expectations, with earnings per share of $1.42 versus the $1.49 consensus estimate and revenue of $311.74 million versus $316.70 million expected. Revenue nevertheless rose 8.9% year over year.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $215.42 price target, while company insiders recently sold shares. Powell also maintains a quarterly dividend of $0.09 per share, yielding about 0.2%.

Ausbil Investment Management Ltd boosted its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 133.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,682 shares of the industrial products company's stock after acquiring an additional 8,963 shares during the quarter. Powell Industries accounts for approximately 1.5% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 26th biggest holding. Ausbil Investment Management Ltd's holdings in Powell Industries were worth $2,893,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Venture Visionary Partners LLC lifted its stake in Powell Industries by 6.8% in the 3rd quarter. Venture Visionary Partners LLC now owns 82,477 shares of the industrial products company's stock valued at $15,215,000 after purchasing an additional 5,230 shares during the last quarter. Congress Asset Management Co. increased its position in Powell Industries by 21.2% during the third quarter. Congress Asset Management Co. now owns 51,438 shares of the industrial products company's stock worth $9,489,000 after buying an additional 8,982 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Powell Industries during the second quarter worth approximately $211,000. Anchor Investment Management LLC increased its position in Powell Industries by 92.9% during the second quarter. Anchor Investment Management LLC now owns 135 shares of the industrial products company's stock worth $39,000 after buying an additional 65 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new stake in Powell Industries in the second quarter valued at approximately $215,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Insider Buying and Selling at Powell Industries

In related news, CEO Brett Cope sold 4,799 shares of the business's stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total value of $900,628.33. Following the completion of the sale, the chief executive officer directly owned 507,934 shares in the company, valued at $95,323,973.78. The trade was a 0.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Marshall Jr sold 301 shares of the company's stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total value of $56,488.67. Following the completion of the transaction, the vice president directly owned 10,552 shares in the company, valued at approximately $1,980,293.84. This represents a 2.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.20% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on POWL. Weiss Ratings cut Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 19th. Glj Research raised Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $235.00 price target on shares of Powell Industries in a research note on Thursday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.42.

Powell Industries Stock Performance

Shares of POWL stock opened at $197.74 on Thursday. Powell Industries, Inc. has a 52 week low of $92.59 and a 52 week high of $328.00. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 37.95, a PEG ratio of 2.13 and a beta of 1.17. The company has a 50-day simple moving average of $192.84 and a 200 day simple moving average of $232.56.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share 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 company had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. During the same period in the prior year, the company earned $3.96 earnings per share. The firm's revenue was up 8.9% compared to the same quarter last year. Sell-side analysts forecast that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Powell Industries's dividend payout ratio (DPR) is presently 6.91%.

Powell Industries Profile

Powell Industries, Inc designs, manufactures and services equipment used to control, monitor and distribute electrical power. Its products include medium-voltage and low-voltage switchgear, motor control centers, electrical control panels, power-control rooms, bus systems and related protection and control equipment. The company also provides engineered electrical systems, field services, equipment modernization, installation support and commissioning services.

Powell serves customers in industries that require reliable and specialized electrical infrastructure, including oil and gas, petrochemical and chemical processing, utilities, mining, transportation, commercial facilities and renewable energy.

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