Capital World Investors Acquires Shares of 64,947 Powell Industries, Inc. $POWL

Capital World Investors acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 64,947 shares of the industrial products company’s stock, valued at approximately $20,704,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Powell Industries by 2.0% in the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock valued at $389,000 after buying an additional 24 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Powell Industries by 3.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $219,000 after buying an additional 25 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Powell Industries by 2.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 29 shares in the last quarter. State of Wyoming increased its stake in shares of Powell Industries by 18.5% during the third quarter. State of Wyoming now owns 186 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 29 shares in the last quarter. Finally, Cornerstone Investment Partners LLC increased its stake in shares of Powell Industries by 1.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 1,911 shares of the industrial products company’s stock worth $609,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

POWL has been the subject of a number of research reports. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Cantor Fitzgerald boosted their target price on shares of Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.67.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 149,334 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $167.41, for a total transaction of $25,000,004.94. Following the transaction, the insider directly owned 1,796,082 shares in the company, valued at approximately $300,682,087.62. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $323.69, for a total transaction of $809,225.00. Following the transaction, the vice president owned 10,853 shares in the company, valued at $3,513,007.57. The trade was a 18.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 179,404 shares of company stock valued at $32,086,304 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Stock Down 3.4%

POWL stock opened at $283.51 on Wednesday. The stock has a market capitalization of $10.33 billion, a P/E ratio of 55.48, a P/E/G ratio of 3.83 and a beta of 1.11. The firm has a 50-day simple moving average of $260.00 and a 200-day simple moving average of $185.56. Powell Industries, Inc. has a 52 week low of $56.70 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 analysts’ consensus estimates of $1.34 by ($0.09). The business had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.81 earnings per share. On average, analysts expect that Powell Industries, Inc. will post 5.47 earnings per share for the current year.

Powell Industries Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. Powell Industries’s payout ratio is presently 7.05%.

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.