Carnegie Investment Counsel Acquires 9,915 Shares of Powell Industries, Inc. $POWL

Carnegie Investment Counsel raised its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 59.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,548 shares of the industrial products company’s stock after purchasing an additional 9,915 shares during the quarter. Carnegie Investment Counsel’s holdings in Powell Industries were worth $5,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in Powell Industries by 168.8% in the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Harbour Investments Inc. grew its stake in Powell Industries by 1,970.0% in the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 197 shares during the period. Morgan Dempsey Capital Management LLC bought a new position in Powell Industries in the 2nd quarter valued at $52,000. AlphaQuest LLC grew its stake in Powell Industries by 472.0% in the 1st quarter. AlphaQuest LLC now owns 429 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 354 shares during the period. Finally, GAMMA Investing LLC grew its stake in Powell Industries by 29.8% in the 1st quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 138 shares during the period. Institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $312.00.

Powell Industries Stock Performance

POWL stock opened at $364.99 on Friday. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.63 and a beta of 0.82. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $367.48. The stock has a fifty day moving average of $295.27 and a 200-day moving average of $232.26.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.23. The company had revenue of $286.27 million during the quarter, compared to the consensus estimate of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.79 EPS. Equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were issued a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. Powell Industries’s dividend payout ratio is 7.43%.

Insider Transactions at Powell Industries

In related news, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following the sale, the executive vice president owned 25,700 shares of the company’s stock, valued at approximately $7,677,618. This represents a 11.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Birchall sold 3,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the sale, the director directly owned 6,700 shares in the company, valued at $1,742,201. This trade represents a 30.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.