Man Group plc Makes New Investment in Powell Industries, Inc. $POWL

Man Group plc purchased a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, HoldingsChannel reports. The fund purchased 19,539 shares of the industrial products company’s stock, valued at approximately $5,595,000.

A number of other institutional investors also recently bought and sold shares of POWL. Capital World Investors purchased a new position in shares of Powell Industries in the fourth quarter valued at approximately $20,704,000. Private Advisory Group LLC purchased a new position in Powell Industries during the 2nd quarter worth approximately $14,158,000. Voss Capital LP grew its holdings in shares of Powell Industries by 18.6% during the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock worth $111,573,000 after buying an additional 55,000 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Powell Industries by 13.4% in the fourth quarter. GW&K Investment Management LLC now owns 254,520 shares of the industrial products company’s stock valued at $81,137,000 after acquiring an additional 30,013 shares in the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in shares of Powell Industries during the 4th quarter worth $1,409,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Powell Industries

In other news, EVP Michael William Metcalf sold 4,500 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 78,900 shares in the company, valued at approximately $22,458,096. The trade was a 5.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the transaction, the chief executive officer directly owned 517,233 shares in the company, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,898 shares of company stock valued at $12,353,653 over the last three months. 2.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on POWL shares. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Cantor Fitzgerald lowered their target price on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Weiss Ratings cut Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 19th. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price target on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $215.42.

Powell Industries Stock Down 5.1%

Shares of POWL opened at $182.71 on Friday. Powell Industries, Inc. has a 12-month low of $83.85 and a 12-month high of $328.00. The stock’s fifty day simple moving average is $228.78 and its 200-day simple moving average is $231.11. The firm has a market capitalization of $6.66 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data 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). The company had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.96 earnings per share. Analysts anticipate that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Powell Industries’s dividend payout ratio is 6.91%.

Powell Industries Company 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.