Powell Industries, Inc. $POWL Shares Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. increased its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 209.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 199,087 shares of the industrial products company's stock after purchasing an additional 134,837 shares during the quarter. Baird Financial Group Inc. owned 0.55% of Powell Industries worth $57,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in Powell Industries by 85,706.4% during the 2nd quarter. California State Teachers Retirement System now owns 9,671,236 shares of the industrial products company's stock worth $2,769,455,000 after acquiring an additional 9,659,965 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Powell Industries in the 2nd quarter valued at about $1,033,376,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Powell Industries by 1,230,312.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company's stock worth $247,106,000 after purchasing an additional 775,097 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of Powell Industries during the second quarter worth about $93,845,000. Finally, Bank of New York Mellon Corp acquired a new position in Powell Industries in the second quarter worth about $60,389,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Cantor Fitzgerald lowered their price objective on Powell Industries from $320.00 to $235.00 and set a "neutral" rating for the company in a report on Friday, August 14th. Glj Research raised Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 19th. Two research 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $215.42.

Powell Industries Stock Down 1.2%

POWL opened at $180.26 on Thursday. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.18. Powell Industries, Inc. has a fifty-two week low of $92.14 and a fifty-two week high of $328.00. The company's 50-day moving average price is $210.94 and its 200 day moving average price is $230.72.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The business's revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.96 earnings per share. Research analysts anticipate that Powell Industries, Inc. will post 5.36 earnings per share for the current year.

Powell Industries Announces Dividend

The business 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. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. Powell Industries's payout ratio is currently 6.91%.

Insider Activity at Powell Industries

In other Powell Industries news, EVP Michael Metcalf sold 4,500 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 78,900 shares of the company's stock, valued at $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 on 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 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 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

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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