SG Americas Securities LLC Has $625,000 Holdings in Powell Industries, Inc. $POWL

SG Americas Securities LLC increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 122.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,970 shares of the industrial products company’s stock after acquiring an additional 1,634 shares during the quarter. SG Americas Securities LLC’s holdings in Powell Industries were worth $625,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of POWL. Truist Financial Corp boosted its stake in shares of Powell Industries by 69.9% in the second quarter. Truist Financial Corp now owns 10,522 shares of the industrial products company’s stock valued at $2,214,000 after buying an additional 4,329 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Powell Industries by 1,010.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 42,607 shares of the industrial products company’s stock valued at $8,949,000 after acquiring an additional 38,769 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Powell Industries during the 2nd quarter valued at $3,182,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Powell Industries during the 2nd quarter worth $242,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Powell Industries by 18.7% in the second quarter. Envestnet Asset Management Inc. now owns 82,105 shares of the industrial products company’s stock worth $17,279,000 after purchasing an additional 12,927 shares during the period. Institutional investors own 89.77% of the company’s stock.

Powell Industries Trading Up 4.2%

Shares of NASDAQ POWL opened at $312.55 on Wednesday. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.95 and a beta of 0.81. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $413.00. The stock has a 50-day moving average price of $330.26 and a two-hundred day moving average price of $260.11.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.46. The company had revenue of $297.98 million for the quarter, compared to analyst estimates of $292.85 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.77 EPS. On average, sell-side analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, November 19th. Powell Industries’s dividend payout ratio is presently 7.21%.

Analyst Ratings Changes

POWL has been the subject of several recent analyst reports. Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a report on Wednesday, November 19th. Finally, Roth Capital reiterated a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $331.00.

Insider Activity at Powell Industries

In related news, EVP Michael William Metcalf sold 3,200 shares of the firm’s stock in a transaction on 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 $7,677,618. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.