Powell Industries, Inc. $POWL Stock Position Raised by GW&K Investment Management LLC

GW&K Investment Management LLC lifted its position in Powell Industries, Inc. (NASDAQ:POWL) by 23.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 224,507 shares of the industrial products company’s stock after buying an additional 42,802 shares during the quarter. GW&K Investment Management LLC’s holdings in Powell Industries were worth $68,434,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC lifted its stake in Powell Industries by 42.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock valued at $705,475,000 after acquiring an additional 686,588 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Powell Industries by 31.7% during the 2nd quarter. First Trust Advisors LP now owns 371,016 shares of the industrial products company’s stock valued at $78,080,000 after purchasing an additional 89,407 shares in the last quarter. State Street Corp lifted its stake in shares of Powell Industries by 0.9% in the 2nd 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 during the last quarter. Invesco Ltd. boosted its holdings in Powell Industries by 23.2% in the second quarter. Invesco Ltd. now owns 340,008 shares of the industrial products company’s stock worth $71,555,000 after purchasing an additional 64,029 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Powell Industries by 49.8% during the third quarter. Fisher Asset Management LLC now owns 300,496 shares of the industrial products company’s stock worth $91,594,000 after buying an additional 99,857 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 14,911 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $600.92, for a total value of $8,960,318.12. Following the completion of the sale, the insider directly owned 652,069 shares of the company’s stock, valued at $391,841,303.48. This represents a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Treasurer David L. Eckenrode sold 295 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $570.00, for a total transaction of $168,150.00. Following the transaction, the treasurer owned 443 shares in the company, valued at approximately $252,510. The trade was a 39.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,158 shares of company stock valued at $17,160,352 in the last 90 days. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Cantor Fitzgerald upped their target price on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Roth Mkm reissued a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $415.50.

Powell Industries Stock Performance

NASDAQ POWL opened at $512.89 on Thursday. The stock has a 50-day simple moving average of $459.05 and a 200 day simple moving average of $366.61. Powell Industries, Inc. has a twelve month low of $150.46 and a twelve month high of $612.50. The stock has a market capitalization of $6.23 billion, a PE ratio of 33.33, a P/E/G ratio of 2.32 and a beta of 0.82.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, topping the consensus estimate of $2.85 by $0.55. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. During the same period in the previous year, the business posted $2.86 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.2%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 18th. Powell Industries’s payout ratio is presently 7.02%.

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.