Louisiana State Employees Retirement System Acquires New Holdings in Powell Industries, Inc. $POWL

Louisiana State Employees Retirement System bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the first quarter, Holdings Channel reports. The fund bought 4,200 shares of the industrial products company’s stock, valued at approximately $2,273,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Powell Industries by 1.5% during the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after purchasing an additional 461 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Powell Industries by 7.9% in the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock worth $1,075,000 after buying an additional 461 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Powell Industries by 1,221.0% in the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock worth $236,000 after buying an additional 1,282 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 valued at $4,841,000 after buying an additional 1,311 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Powell Industries by 6.2% during the second quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock valued at $6,548,000 after buying an additional 1,822 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Performance

POWL stock opened at $281.09 on Tuesday. The firm has a market cap of $10.24 billion, a P/E ratio of 55.01, a P/E/G ratio of 3.65 and a beta of 1.11. The firm’s fifty day moving average is $284.07 and its 200 day moving average is $203.86. Powell Industries, Inc. has a 52 week low of $67.82 and a 52 week high of $328.00.

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

Powell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were paid 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 7.05%.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 33,958 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the completion of the sale, the insider directly owned 564,736 shares in the company, valued at $166,309,104.64. This represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard E. Williams sold 5,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $299.19, for a total value of $1,570,747.50. Following the transaction, the director owned 39,630 shares in the company, valued at approximately $11,856,899.70. The trade was a 11.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 50,588 shares of company stock worth $14,755,486. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

POWL has been the topic of a number of research analyst reports. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Glj Research began coverage on Powell Industries in a research report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Finally, Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.67.

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.