California State Teachers Retirement System Purchases 22,502 Shares of Powell Industries, Inc. $POWL

California State Teachers Retirement System grew its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 199.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,773 shares of the industrial products company's stock after acquiring an additional 22,502 shares during the quarter. California State Teachers Retirement System owned 0.09% of Powell Industries worth $9,671,236 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Powell Industries in the 2nd quarter worth about $1,033,376,000. Northwestern Mutual Wealth Management Co. lifted its position in Powell Industries by 1,230,312.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company's stock worth $247,106,000 after acquiring an additional 775,097 shares during the period. Voss Capital LP lifted its stake in Powell Industries by 18.6% in the 4th 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 in the last quarter. Jupiter Topco LLC acquired a new position in shares of Powell Industries during the 2nd quarter valued at $93,845,000. Finally, Fisher Asset Management LLC raised its stake in Powell Industries by 5.6% during the fourth quarter. Fisher Asset Management LLC now owns 317,273 shares of the industrial products company's stock worth $101,140,000 after acquiring an additional 16,777 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on POWL. Glj Research upgraded shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a research note 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 reduced 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 note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Powell Industries currently has an average rating of "Moderate Buy" and a consensus price target of $215.42.

Insiders Place Their Bets

In other Powell Industries news, CEO Brett Cope sold 4,440 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer directly owned 517,233 shares of the company's stock, valued at $124,937,631.15. The trade was a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the sale, the insider owned 564,736 shares of the company's stock, valued at $166,309,104.64. This trade represents a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 42,898 shares of company stock worth $12,353,653 in the last quarter. Corporate insiders own 2.20% of the company's stock.

Powell Industries Stock Up 1.5%

NASDAQ POWL traded up $2.50 on Tuesday, hitting $173.21. 290,523 shares of the stock were exchanged, compared to its average volume of 734,726. The company has a 50-day moving average price of $206.73 and a 200-day moving average price of $230.58. Powell Industries, Inc. has a fifty-two week low of $92.30 and a fifty-two week high of $328.00. The company has a market cap of $6.31 billion, a PE ratio of 33.26, a PEG ratio of 2.43 and a beta of 1.18.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $316.70 million. During the same period last year, the firm posted $3.96 EPS. Powell Industries's revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts predict that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Dividend Announcement

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 paid 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 currently 6.91%.

Powell Industries Company Profile

Powell Industries, Inc designs, manufactures and services equipment and systems used to control, monitor and distribute electrical power. Its offerings include medium- and low-voltage switchgear, motor control centers, power control rooms, modular power systems, circuit breakers, bus systems, protective relays and related automation and control solutions.

The company provides engineered electrical systems for industrial and infrastructure applications, including oil and gas, petrochemical, chemical, utility, mining, transportation and other heavy industries.

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