Powell Industries, Inc. $POWL Holdings Raised by Algert Global LLC

Key Points

• Algert Global increased its Powell Industries stake by 226.4% in the second quarter to 34,788 shares, while institutional investors collectively owned 89.77% of the company.
• Powell Industries reported quarterly EPS of $1.42, missing the $1.49 consensus estimate, while revenue of $311.74 million also fell short of expectations but rose 8.9% year over year.
• Insiders sold 42,898 shares worth approximately $12.4 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus, with an average price target of $215.42, and the company declared a quarterly dividend of $0.09 per share.

Algert Global LLC lifted its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 226.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,788 shares of the industrial products company's stock after purchasing an additional 24,129 shares during the quarter. Algert Global LLC owned 0.10% of Powell Industries worth $9,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Powell Industries in the 2nd quarter valued at approximately $1,033,376,000. Northwestern Mutual Wealth Management Co. raised its stake 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 valued at $247,106,000 after purchasing an additional 775,097 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Powell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company's stock valued at $225,263,000 after purchasing an additional 6,419 shares in the last quarter. State Street Corp lifted its holdings in shares of Powell Industries by 0.9% in the second quarter. State Street Corp now owns 352,103 shares of the industrial products company's stock valued at $74,100,000 after purchasing an additional 3,159 shares in the last quarter. Finally, Voss Capital LP boosted its position 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 worth $111,573,000 after buying an additional 55,000 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Buying and Selling at Powell Industries

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

Powell Industries Price Performance

Shares of POWL stock opened at $190.19 on Wednesday. Powell Industries, Inc. has a fifty-two week low of $83.85 and a fifty-two week high of $328.00. The stock's 50-day moving average is $235.21 and its two-hundred day moving average is $231.39. The firm has a market cap of $6.93 billion, a P/E ratio of 36.50, a PEG ratio of 2.52 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 for the quarter, missing analysts' consensus estimates of $1.49 by ($0.07). The firm had revenue of $311.74 million for the quarter, compared to analysts' expectations of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The firm's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business earned $3.96 earnings per share. As a group, research analysts expect that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given 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 is Wednesday, August 19th. Powell Industries's dividend payout ratio (DPR) is presently 6.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Glj Research upgraded Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Zacks Research lowered Powell Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on Powell Industries from $310.00 to $360.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Cantor Fitzgerald dropped their target price on Powell Industries from $320.00 to $235.00 and set a "neutral" rating on the stock in a report on Friday, August 14th. Finally, Weiss Ratings lowered shares of Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 19th. Two investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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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