OMERS ADMINISTRATION Corp Makes New Investment in Powell Industries, Inc. $POWL

Key Points

• OMERS Administration Corp. acquired 10,065 Powell Industries shares worth approximately $2.88 million in the second quarter. Other institutions also initiated positions, and institutional investors now own 89.77% of the company.
• Powell Industries reported quarterly revenue of $311.74 million, up 8.9% year over year, but EPS of $1.42 missed analyst expectations of $1.49. The company maintains a 16.49% net margin and recently declared a quarterly dividend of $0.09 per share.
• Insiders sold 42,898 shares worth roughly $12.35 million over the past 90 days, while analyst opinions remain mixed; the stock carries a consensus “Moderate Buy” rating with an average price target of $215.42.

OMERS ADMINISTRATION Corp acquired a new position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,065 shares of the industrial products company's stock, valued at approximately $2,882,000.

A number of other hedge funds have also made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in Powell Industries during the 2nd quarter worth $505,000. Elevation Point Wealth Partners LLC acquired a new stake in Powell Industries in the 2nd quarter valued at $348,000. Commerce Bank acquired a new stake in Powell Industries in the 2nd quarter valued at $349,000. Quantbot Technologies LP purchased a new position in Powell Industries in the second quarter valued at about $1,269,000. Finally, Farringdon Capital Ltd. purchased a new position in Powell Industries in the second quarter valued at about $233,000. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Activity

In related news, EVP Michael William Metcalf sold 4,500 shares of Powell Industries stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the transaction, the executive vice president directly owned 78,900 shares in the company, valued at approximately $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 business's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the completion of the sale, the insider directly owned 564,736 shares of the company's stock, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 42,898 shares of company stock worth $12,353,653. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Trading Up 0.6%

Shares of NASDAQ:POWL opened at $190.19 on Wednesday. The company has a fifty day simple moving average of $235.21 and a 200 day simple moving average of $231.39. The firm has a market cap of $6.93 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 2.52 and a beta of 1.18. Powell Industries, Inc. has a 12-month low of $83.85 and a 12-month high of $328.00.

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 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 analyst estimates of $316.70 million. During the same period in the prior year, the company earned $3.96 earnings per share. The company's revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts forecast that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders 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 dividend yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Powell Industries's dividend payout ratio is 6.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on POWL shares. Cantor Fitzgerald decreased their target price on Powell Industries from $320.00 to $235.00 and set a "neutral" rating for the company in a research report on Friday, August 14th. Weiss Ratings downgraded Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. boosted their price target on Powell Industries from $310.00 to $360.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Zacks Research cut Powell Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Finally, Glj Research raised shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.42.

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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