Granahan Investment Management LLC Sells 27,449 Shares of Powell Industries, Inc. $POWL

Granahan Investment Management LLC lessened its stake in Powell Industries, Inc. (NASDAQ:POWL) by 62.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,764 shares of the industrial products company’s stock after selling 27,449 shares during the period. Granahan Investment Management LLC’s holdings in Powell Industries were worth $5,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC lifted its position in shares of Powell Industries by 42.2% during 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 buying an additional 686,588 shares during the last quarter. First Trust Advisors LP grew its position in shares of Powell Industries by 65.8% in the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock worth $187,479,000 after buying an additional 244,051 shares during the last quarter. State Street Corp raised its stake in shares of Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after acquiring an additional 3,159 shares in the last quarter. Invesco Ltd. lifted its position in Powell Industries by 2.4% during the third quarter. Invesco Ltd. now owns 348,091 shares of the industrial products company’s stock valued at $106,102,000 after acquiring an additional 8,083 shares during the last quarter. Finally, Fisher Asset Management LLC lifted 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 valued at $91,594,000 after acquiring an additional 99,857 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on POWL shares. Glj Research started coverage on shares of Powell Industries in a report on Thursday, March 5th. They issued a “hold” rating and a $450.00 price target on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Cantor Fitzgerald raised their price objective on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $350.00 target price 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 two have given a Hold rating to the company. According to data from MarketBeat.com, Powell Industries has a consensus rating of “Moderate Buy” and an average price target of $427.00.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 14,911 shares of Powell Industries stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $600.92, for a total transaction of $8,960,318.12. Following the completion of the sale, the insider owned 652,069 shares of the company’s stock, valued at $391,841,303.48. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP William Marshall Mauney, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $331.73, for a total value of $995,190.00. Following the completion of the sale, the vice president owned 4,451 shares in the company, valued at approximately $1,476,530.23. This represents a 40.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 30,158 shares of company stock valued at $17,160,352. 2.20% of the stock is owned by company insiders.

Powell Industries Trading Down 2.1%

NASDAQ POWL opened at $502.71 on Monday. Powell Industries, Inc. has a 12-month low of $152.89 and a 12-month high of $612.50. The company has a fifty day simple moving average of $483.80 and a two-hundred day simple moving average of $379.67. The stock has a market cap of $6.10 billion, a P/E ratio of 32.66, a P/E/G ratio of 2.25 and a beta of 0.82.

Powell Industries’s stock is going to split on Monday, April 6th. The 3-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Sunday, April 5th.

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

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, February 18th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is 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.