Kayne Anderson Capital Advisors LP Takes Position in Powell Industries, Inc. $POWL

Kayne Anderson Capital Advisors LP bought a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, Holdings Channel reports. The firm bought 9,572 shares of the industrial products company’s stock, valued at approximately $2,741,000.

A number of other large investors have also recently made changes to their positions in POWL. Greenline Wealth Management LLC bought a new position in Powell Industries during the 4th quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Powell Industries by 183.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 68 shares during the period. State of Wyoming purchased a new position in Powell Industries during the 2nd quarter valued at $33,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Powell Industries in the 2nd quarter valued at $34,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction on 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 owned 564,736 shares in the company, valued at $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael William Metcalf sold 4,500 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total value of $1,280,880.00. Following the sale, the executive vice president directly owned 78,900 shares in the company, valued at $22,458,096. This trade represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,898 shares of company stock valued at $12,353,653 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

POWL has been the subject of several research analyst reports. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings cut shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald lowered their price objective on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Powell Industries presently has an average rating of “Moderate Buy” and a consensus target price of $215.42.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $197.40 on Friday. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 2.64 and a beta of 1.18. The firm’s 50-day moving average is $241.49 and its two-hundred day moving average is $230.66. Powell Industries, Inc. has a 1 year low of $81.27 and a 1 year high of $328.00.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The business had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. During the same quarter in the prior year, the firm posted $3.96 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts expect that Powell Industries, Inc. will post 5.36 earnings per share for the current year.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. Powell Industries’s payout ratio is 6.91%.

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.