Powell Industries, Inc. $POWL Shares Bought by Voss Capital LP

Voss Capital LP lifted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 59.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,000 shares of the industrial products company’s stock after acquiring an additional 110,140 shares during the quarter. Powell Industries accounts for 4.3% of Voss Capital LP’s portfolio, making the stock its 10th largest holding. Voss Capital LP’s holdings in Powell Industries were worth $89,919,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of POWL. Ashton Thomas Private Wealth LLC raised its position in shares of Powell Industries by 2.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 29 shares during the period. State of Wyoming boosted its position in shares of Powell Industries by 18.5% in the 3rd quarter. State of Wyoming now owns 186 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 29 shares during the period. Arizona State Retirement System boosted its position in shares of Powell Industries by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 2,847 shares of the industrial products company’s stock valued at $868,000 after purchasing an additional 30 shares during the period. Advisors Asset Management Inc. increased its stake in Powell Industries by 3.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,221 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 42 shares in the last quarter. Finally, Quest Investment Management LLC increased its stake in Powell Industries by 0.9% in the 3rd quarter. Quest Investment Management LLC now owns 5,002 shares of the industrial products company’s stock worth $1,525,000 after purchasing an additional 45 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Trading Up 2.0%

NASDAQ:POWL opened at $522.12 on Wednesday. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.29 and a beta of 0.82. Powell Industries, Inc. has a 1-year low of $152.89 and a 1-year high of $612.50. The business’s fifty day moving average price is $490.05 and its 200 day moving average price is $383.17.

Powell Industries’s stock is set to split on the morning of Monday, April 6th. The 3-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Sunday, April 5th.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, topping 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 firm had revenue of $251.18 million during the quarter, compared to analyst estimates of $255.34 million. During the same period last year, the company posted $2.86 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The business also recently declared 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. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 18th. Powell Industries’s dividend payout ratio is 7.02%.

Insider Activity

In related news, CEO Brett Alan Cope sold 1,480 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $504.80, for a total transaction of $747,104.00. Following the transaction, the chief executive officer directly owned 169,291 shares of the company’s stock, valued at approximately $85,458,096.80. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Thomas W. Powell sold 14,911 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $600.92, for a total transaction of $8,960,318.12. Following the completion of the transaction, the insider owned 652,069 shares in the company, valued at approximately $391,841,303.48. This represents a 2.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,638 shares of company stock valued at $17,907,456 in the last three months. 2.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Cantor Fitzgerald upped their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Roth Mkm reissued a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Glj Research initiated coverage on shares of Powell Industries in a research note on Thursday, March 5th. They issued a “hold” rating and a $450.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $427.00.

Powell Industries Company 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.