Royce & Associates LP Has $19.47 Million Position in Powell Industries, Inc. $POWL

Royce & Associates LP trimmed its position in Powell Industries, Inc. (NASDAQ:POWL) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,880 shares of the industrial products company’s stock after selling 4,307 shares during the period. Royce & Associates LP owned approximately 0.53% of Powell Industries worth $19,471,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of POWL. Elevation Point Wealth Partners LLC acquired a new stake in Powell Industries in the second quarter worth $33,000. State of Wyoming bought a new position in Powell Industries during the second quarter worth about $33,000. Manchester Capital Management LLC grew its stake in Powell Industries by 42.9% in the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 60 shares during the period. Virtus Advisers LLC acquired a new stake in shares of Powell Industries during the second quarter worth about $46,000. Finally, AlphaQuest LLC lifted its holdings in shares of Powell Industries by 30.7% during the 3rd quarter. AlphaQuest LLC now owns 400 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Activity

In other news, insider Ping Ni sold 70 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $590.00, for a total value of $41,300.00. Following the sale, the insider directly owned 2,023 shares of the company’s stock, valued at approximately $1,193,570. This represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Marshall Mauney, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $331.73, for a total value of $995,190.00. Following the completion of the sale, the vice president owned 4,451 shares in the company, valued at $1,476,530.23. This represents a 40.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 30,158 shares of company stock valued at $17,160,352. 2.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on POWL. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Roth Mkm reissued a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a research report on Wednesday, November 19th. Cantor Fitzgerald raised their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $415.50.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $523.60 on Monday. The company’s 50-day moving average price is $448.15 and its two-hundred day moving average price is $361.83. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $612.50. The stock has a market capitalization of $6.36 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The business had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. During the same quarter in the previous year, the business earned $2.86 earnings per share. Powell Industries’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, February 18th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 0.2%. Powell Industries’s dividend payout ratio is presently 7.02%.

Powell Industries 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.