Powell Industries, Inc. $POWL is Voss Capital LP's 7th Largest Position

Key Points

• Voss Capital LP increased its stake in Powell Industries by 18.6% in the fourth quarter, making POWL its 7th largest holding at 5.4% of the fund’s portfolio. The firm owned 350,000 shares valued at about $111.6 million.
• Wall Street sentiment is mixed but generally positive, with analysts setting an average price target of $236.67 and a consensus rating of “Moderate Buy.” Recent target hikes from Cantor Fitzgerald and JPMorgan helped lift expectations for the stock.
• Powell Industries reported mixed quarterly results, missing EPS and revenue estimates even though revenue rose 6.5% year over year. The company also announced a small quarterly dividend of $0.09 per share, or $0.36 annualized.

Voss Capital LP lifted its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 350,000 shares of the industrial products company's stock after purchasing an additional 55,000 shares during the quarter. Powell Industries comprises about 5.4% of Voss Capital LP's holdings, making the stock its 7th biggest holding. Voss Capital LP owned approximately 2.88% of Powell Industries worth $111,573,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Avanza Fonder AB purchased a new position in Powell Industries during the fourth quarter worth about $30,000. Steward Partners Investment Advisory LLC boosted its stake in Powell Industries by 126.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company's stock worth $36,000 after buying an additional 63 shares during the period. First Horizon Corp purchased a new position in Powell Industries during the fourth quarter worth about $40,000. Larson Financial Group LLC boosted its stake in Powell Industries by 12,800.0% during the fourth quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company's stock worth $41,000 after buying an additional 128 shares during the period. Finally, Huntington National Bank boosted its stake in Powell Industries by 74.0% during the fourth quarter. Huntington National Bank now owns 134 shares of the industrial products company's stock worth $43,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Cantor Fitzgerald increased their target price on shares of Powell Industries from $160.00 to $320.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. increased their target price on shares of Powell Industries from $310.00 to $360.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Powell Industries from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 8th. Glj Research assumed coverage on shares of Powell Industries in a research note on Thursday, March 5th. They set a "hold" rating and a $150.00 target price for the company. Finally, Texas Capital raised shares of Powell Industries to a "strong-buy" rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Powell Industries has a consensus rating of "Moderate Buy" and an average price target of $236.67.

Insider Transactions at Powell Industries

In related news, EVP Michael William Metcalf sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $176.00, for a total value of $1,584,000.00. Following the sale, the executive vice president owned 83,400 shares of the company's stock, valued at $14,678,400. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $323.69, for a total transaction of $809,225.00. Following the completion of the sale, the vice president directly owned 10,853 shares in the company, valued at approximately $3,513,007.57. This trade represents a 18.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 174,964 shares of company stock valued at $31,339,200 over the last quarter. Insiders own 2.20% of the company's stock.

Powell Industries Stock Performance

NASDAQ POWL opened at $294.75 on Friday. The firm has a 50 day simple moving average of $266.30 and a 200-day simple moving average of $188.84. Powell Industries, Inc. has a one year low of $56.70 and a one year high of $328.00. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 57.68, a PEG ratio of 3.79 and a beta of 1.11.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The business had revenue of $296.62 million during the quarter, compared to analysts' expectations of $298.12 million. During the same period in the previous year, the business posted $3.81 EPS. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.1%. Powell Industries's dividend payout ratio (DPR) is presently 7.05%.

Powell Industries Company 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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