Rockefeller Capital Management L.P. Sells 10,629 Shares of Powell Industries, Inc. $POWL

Key Points

• Rockefeller Capital Management reduced its Powell Industries stake by 8.5% in the fourth quarter, selling 10,629 shares and ending with 113,939 shares valued at about $36.3 million.
• Insider selling continued, with CEO Brett Alan Cope and VP William Marshall Mauney, Jr. both selling shares in recent months; insiders have sold 25,630 shares worth $6.34 million over the last 90 days.
• Powell Industries posted mixed fundamentals: quarterly EPS and revenue both came in slightly below estimates, while the stock has risen sharply, trading near $297 with a 52-week high of $328.

Rockefeller Capital Management L.P. lowered its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,939 shares of the industrial products company's stock after selling 10,629 shares during the period. Rockefeller Capital Management L.P. owned about 0.94% of Powell Industries worth $36,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of POWL. Alps Advisors Inc. lifted its holdings in shares of 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 increased its stake in Powell Industries by 2.0% in the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company's stock valued at $389,000 after acquiring an additional 24 shares during the period. Sequoia Financial Advisors LLC increased its stake in Powell Industries by 3.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company's stock valued at $219,000 after acquiring an additional 25 shares during the period. Maryland State Retirement & Pension System raised its position in 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 raised its position in 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. Institutional investors own 89.77% of the company's stock.

Insiders Place Their Bets

In related news, CEO Brett Alan Cope sold 4,440 shares of the company's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $233.96, for a total transaction of $1,038,782.40. Following the transaction, the chief executive officer owned 164,851 shares in the company, valued at $38,568,539.96. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 dated 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 owned 10,853 shares of the company's stock, valued at $3,513,007.57. The trade was a 18.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 25,630 shares of company stock valued at $6,339,195. 2.20% of the stock is owned by corporate insiders.

Powell Industries Price Performance

NASDAQ POWL opened at $297.20 on Monday. The firm has a market cap of $10.83 billion, a PE ratio of 58.16, a price-to-earnings-growth ratio of 3.88 and a beta of 1.11. Powell Industries, Inc. has a one year low of $56.70 and a one year high of $328.00. The stock's 50 day simple moving average is $276.56 and its 200 day simple moving average is $196.17.

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

Powell Industries Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, May 20th. Powell Industries's payout ratio is currently 7.05%.

Analysts Set New Price Targets

A number of research firms have weighed in on POWL. Weiss Ratings raised Powell Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 8th. Wall Street Zen cut Powell Industries from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. JPMorgan Chase & Co. raised their target price on Powell Industries from $310.00 to $360.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Cantor Fitzgerald boosted their price target on Powell Industries from $160.00 to $320.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Finally, Zacks Research downgraded shares of Powell Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $236.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.