Intech Investment Management LLC Boosts Stock Holdings in Powell Industries, Inc. $POWL

Intech Investment Management LLC grew its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 41.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,604 shares of the industrial products company’s stock after buying an additional 1,638 shares during the quarter. Intech Investment Management LLC’s holdings in Powell Industries were worth $1,708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in Powell Industries by 1.5% during the first quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock worth $5,251,000 after purchasing an additional 461 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Powell Industries by 7.9% during the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock valued at $1,075,000 after buying an additional 461 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Powell Industries by 1,221.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 1,282 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Powell Industries by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock worth $4,841,000 after buying an additional 1,311 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Powell Industries by 18.7% in the second quarter. Envestnet Asset Management Inc. now owns 82,105 shares of the industrial products company’s stock worth $17,279,000 after acquiring an additional 12,927 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Stock Performance

NASDAQ:POWL opened at $503.01 on Friday. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82. Powell Industries, Inc. has a one year low of $150.46 and a one year high of $612.50. The business’s 50-day simple moving average is $462.39 and its 200 day simple moving average is $367.56.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (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 earned $2.86 EPS. Powell Industries’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be issued a $0.27 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, February 18th. Powell Industries’s dividend payout ratio is currently 7.02%.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 14,911 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $600.92, for a total transaction of $8,960,318.12. Following the completion of the transaction, the insider directly owned 652,069 shares of the company’s stock, valued at $391,841,303.48. This trade represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ping Ni sold 70 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $590.00, for a total transaction of $41,300.00. Following the completion of the sale, the insider directly owned 2,023 shares of the company’s stock, valued at $1,193,570. The trade was a 3.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 30,158 shares of company stock valued at $17,160,352. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Wall Street Zen upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Glj Research started coverage on Powell Industries in a research note on Thursday. They set a “hold” rating and a $450.00 price target for the company. Finally, Cantor Fitzgerald raised their price objective on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $427.00.

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.