Powell Industries, Inc. $POWL Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its position in Powell Industries, Inc. (NASDAQ:POWL) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,826 shares of the industrial products company’s stock after selling 2,054 shares during the period. Royce & Associates LP’s holdings in Powell Industries were worth $19,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of POWL. Avanza Fonder AB acquired a new position in shares of Powell Industries in the 4th quarter valued at about $30,000. State of Wyoming acquired a new position in shares of Powell Industries in the 2nd quarter valued at about $33,000. First Horizon Corp acquired a new position in shares of Powell Industries in the 4th quarter valued at about $40,000. Larson Financial Group LLC lifted its stake in shares of Powell Industries by 12,800.0% in the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 128 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Powell Industries by 122.6% in the 4th quarter. Hantz Financial Services Inc. now owns 138 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 76 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $291.97 on Wednesday. The company has a market cap of $10.64 billion, a P/E ratio of 57.14, a PEG ratio of 3.65 and a beta of 1.14. Powell Industries, Inc. has a one year low of $54.75 and a one year high of $328.00. The business’s 50-day simple moving average is $237.15 and its 200 day simple moving average is $173.03.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.09). The company had revenue of $296.62 million for the quarter, compared to analysts’ expectations of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.81 earnings per share. Analysts predict that Powell Industries, Inc. will post 5.47 earnings per share for the current year.

Powell Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.36 annualized dividend and a yield of 0.1%. Powell Industries’s payout ratio is currently 7.05%.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 149,334 shares of Powell Industries stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $167.41, for a total transaction of $25,000,004.94. Following the sale, the insider directly owned 1,796,082 shares in the company, valued at $300,682,087.62. The trade was a 7.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Alan Cope sold 4,440 shares of Powell Industries stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $301.00, for a total value of $1,336,440.00. Following the sale, the chief executive officer owned 490,113 shares in the company, valued at $147,524,013. This represents a 0.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 179,404 shares of company stock worth $32,086,304 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

POWL has been the topic of several research analyst reports. Texas Capital raised Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Cantor Fitzgerald raised their target price on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Glj Research assumed coverage on Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $150.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $236.67.

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.