Tidal Investments LLC Purchases 194,840 Shares of Powell Industries, Inc. $POWL

Tidal Investments LLC increased its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 222.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,483 shares of the industrial products company’s stock after purchasing an additional 194,840 shares during the quarter. Tidal Investments LLC’s holdings in Powell Industries were worth $80,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of POWL. Royal Bank of Canada increased its position in shares of Powell Industries by 1.5% during the first quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after buying an additional 461 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Powell Industries by 7.9% during the 1st quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock worth $1,075,000 after acquiring an additional 461 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Powell Industries by 1,221.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 1,282 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Powell Industries by 4.8% in the 1st 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 worth $4,841,000 after acquiring an additional 1,311 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Powell Industries by 6.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock worth $6,548,000 after acquiring an additional 1,822 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on POWL. Cantor Fitzgerald lowered their price objective on Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Weiss Ratings cut shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 19th. Finally, Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.42.

Powell Industries Stock Performance

POWL opened at $180.26 on Thursday. The company’s 50-day simple moving average is $210.94 and its two-hundred day simple moving average is $230.72. The stock has a market capitalization of $6.57 billion, a P/E ratio of 34.60, a P/E/G ratio of 2.43 and a beta of 1.18. Powell Industries, Inc. has a 52-week low of $92.14 and a 52-week high of $328.00.

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 analysts’ consensus estimates of $1.49 by ($0.07). Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The firm had revenue of $311.74 million for the quarter, compared to analysts’ expectations of $316.70 million. During the same quarter last year, the company posted $3.96 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Research analysts forecast that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Announces Dividend

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

Insider Buying and Selling

In other news, EVP Michael Metcalf sold 4,500 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the transaction, the executive vice president owned 78,900 shares of the company’s stock, valued at $22,458,096. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Cope sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. This trade represents a 0.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 42,898 shares of company stock valued at $12,353,653. Company insiders own 2.20% of the company’s stock.

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.