Stephens Investment Management Group LLC Has $32.34 Million Stake in Powell Industries, Inc. $POWL

Key Points

• Stephens Investment Management Group cut its Powell Industries stake by 22.2% in the first quarter, but still held 59,777 shares valued at about $32.34 million at the end of the period.
• Several insiders sold shares recently, including a director and a vice president, and insider selling totaled 55,088 shares worth about $16.0 million over the last 90 days.
• Powell Industries reported mixed quarterly results, missing earnings and revenue estimates, while analysts currently have a Moderate Buy consensus with an average target price of $236.67.

Stephens Investment Management Group LLC reduced its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 22.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,777 shares of the industrial products company's stock after selling 17,042 shares during the quarter. Stephens Investment Management Group LLC owned 0.16% of Powell Industries worth $32,344,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its holdings in shares of Powell Industries by 1.1% in the 4th quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company's stock valued at $510,000 after purchasing an additional 18 shares during the period. CWM LLC lifted its stake in Powell Industries by 2.0% in the 4th quarter. CWM LLC now owns 1,219 shares of the industrial products company's stock valued at $389,000 after purchasing an additional 24 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Powell Industries by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company's stock worth $219,000 after purchasing an additional 25 shares during the period. Maryland State Retirement & Pension System increased its position in Powell Industries by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company's stock worth $440,000 after buying an additional 27 shares during the last quarter. Finally, Cornerstone Investment Partners LLC raised its stake 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 valued at $609,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

Insider Activity

In other news, Director Richard E. Williams sold 5,250 shares of Powell Industries stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the completion of the sale, the director owned 39,630 shares of the company's stock, valued at approximately $11,856,899.70. This trade represents a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of the business'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 directly owned 10,853 shares of the company's stock, valued at approximately $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 have sold 55,088 shares of company stock worth $16,036,366. Corporate insiders own 2.20% of the company's stock.

Analyst Ratings Changes

POWL has been the subject of a number of recent analyst reports. Wall Street Zen cut Powell Industries from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. JPMorgan Chase & Co. increased their price target on Powell Industries from $310.00 to $360.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Texas Capital raised shares of Powell Industries to a "strong-buy" rating in a research report on Friday, March 27th. Cantor Fitzgerald upped their price objective on shares of Powell Industries from $160.00 to $320.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Finally, Weiss Ratings raised shares of Powell Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $236.67.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $246.33 on Friday. Powell Industries, Inc. has a 12-month low of $68.33 and a 12-month high of $328.00. The stock has a market cap of $8.97 billion, a PE ratio of 48.21, a P/E/G ratio of 3.22 and a beta of 1.13. The business has a 50 day moving average of $285.62 and a 200-day moving average of $207.27.

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

Powell Industries Cuts Dividend

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

About Powell Industries

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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