Janus Henderson Group PLC Boosts Stock Position in Powell Industries, Inc. $POWL

Key Points

• Janus Henderson increased its Powell Industries stake by 55.1% in the first quarter, bringing its holdings to 224,966 shares worth approximately $121.6 million. Institutional investors collectively own 89.77% of POWL.
• Analyst sentiment remains generally positive, with an average rating of “Buy” and a consensus price target of $236.67, despite mixed actions ranging from upgrades to downgrades.
• Powell Industries recently reported quarterly EPS of $1.25, below the $1.34 consensus estimate, while revenue rose 6.5% year over year to $296.62 million. Meanwhile, insiders sold approximately $16.1 million of stock over the past three months.

Janus Henderson Group PLC lifted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 55.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 224,966 shares of the industrial products company's stock after acquiring an additional 79,932 shares during the quarter. Janus Henderson Group PLC owned approximately 0.62% of Powell Industries worth $121,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in Powell Industries by 1.1% during the 4th quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company's stock worth $510,000 after acquiring an additional 18 shares during the period. CWM LLC boosted its position in shares of Powell Industries by 2.0% in the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company's stock worth $389,000 after purchasing an additional 24 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Powell Industries by 3.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company's stock worth $219,000 after purchasing an additional 25 shares during the period. Maryland State Retirement & Pension System increased its stake in shares of Powell Industries by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company's stock worth $440,000 after purchasing an additional 27 shares in the last quarter. Finally, Cornerstone Investment Partners LLC increased its stake in shares of Powell Industries by 1.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 1,911 shares of the industrial products company's stock worth $609,000 after purchasing an additional 30 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in 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. Cantor Fitzgerald increased their price target on Powell Industries from $160.00 to $320.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Weiss Ratings lowered Powell Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Zacks Research downgraded Powell Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Powell Industries from $310.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $236.67.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 33,958 shares of Powell Industries stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $294.49, for a total value of $10,000,291.42. Following the completion of the transaction, the insider owned 564,736 shares in the company, valued at approximately $166,309,104.64. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $323.69, for a total value of $809,225.00. Following the sale, the vice president directly owned 10,853 shares in the company, valued at $3,513,007.57. The trade was a 18.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 55,088 shares of company stock worth $16,070,066. 2.20% of the stock is owned by insiders.

Powell Industries Stock Performance

NASDAQ POWL opened at $208.46 on Friday. The stock has a 50 day moving average price of $263.99 and a 200-day moving average price of $223.42. Powell Industries, Inc. has a one year low of $69.00 and a one year high of $328.00. The company has a market capitalization of $7.59 billion, a P/E ratio of 40.79, a P/E/G ratio of 2.73 and a beta of 1.13.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million during the quarter, compared to the consensus estimate of $298.12 million. During the same quarter in the prior year, the firm posted $3.81 EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were issued a $0.09 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries's payout ratio is 7.05%.

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.

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