Powell Industries, Inc. $POWL Holdings Lessened by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. decreased its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 85.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,129 shares of the industrial products company’s stock after selling 6,590 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Powell Industries were worth $208,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of POWL. BlackRock Inc. acquired a new position in Powell Industries in the 2nd quarter worth approximately $1,033,376,000. Jupiter Topco LLC purchased a new position in Powell Industries during the 2nd quarter worth approximately $93,845,000. Bank of New York Mellon Corp purchased a new position in Powell Industries during the 2nd quarter worth approximately $60,389,000. Tidal Investments LLC lifted its stake in Powell Industries by 222.3% during the 2nd quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company’s stock valued at $80,892,000 after acquiring an additional 194,840 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Powell Industries during the 2nd quarter valued at approximately $54,335,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Activity at Powell Industries

In related news, CEO Brett Cope sold 4,799 shares of the stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total transaction of $900,628.33. Following the sale, the chief executive officer directly owned 507,934 shares of the company’s stock, valued at approximately $95,323,973.78. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William Marshall Mauney, Jr. sold 301 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total transaction of $56,488.67. Following the sale, the vice president directly owned 10,552 shares in the company, valued at $1,980,293.84. This trade represents a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by insiders.

Powell Industries Stock Performance

Powell Industries stock traded down $5.68 during midday trading on Friday, hitting $165.14. 1,183,558 shares of the company were exchanged, compared to its average volume of 583,427. The firm has a market capitalization of $6.02 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 1.78 and a beta of 1.17. Powell Industries, Inc. has a fifty-two week low of $92.59 and a fifty-two week high of $328.00. The business has a fifty day simple moving average of $188.41 and a two-hundred day simple moving average of $232.09.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share 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 company had revenue of $311.74 million for the quarter, compared to analysts’ expectations of $316.70 million. During the same quarter in the prior year, the business posted $3.96 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts expect that Powell Industries, Inc. will post 5.36 earnings per share for the current year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were 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 was Wednesday, August 19th. Powell Industries’s payout ratio is 6.91%.

Analyst Upgrades and Downgrades

POWL has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $235.00 price objective on shares of Powell Industries in a report on Thursday, October 1st. JPMorgan Chase & Co. cut their price objective on shares of Powell Industries from $300.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings downgraded shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.92.

About Powell Industries

Powell Industries, Inc designs, manufactures and services equipment used to control, monitor and distribute electrical power. Its products include medium-voltage and low-voltage switchgear, motor control centers, electrical control panels, power-control rooms, bus systems and related protection and control equipment. The company also provides engineered electrical systems, field services, equipment modernization, installation support and commissioning services.

Powell serves customers in industries that require reliable and specialized electrical infrastructure, including oil and gas, petrochemical and chemical processing, utilities, mining, transportation, commercial facilities and renewable energy.