Powell Industries, Inc. $POWL Shares Sold by Galaxy Digital Capital Management GP LLC

Galaxy Digital Capital Management GP LLC lowered its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 58.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,021 shares of the industrial products company’s stock after selling 2,786 shares during the period. Powell Industries comprises 1.2% of Galaxy Digital Capital Management GP LLC’s portfolio, making the stock its 20th largest holding. Galaxy Digital Capital Management GP LLC’s holdings in Powell Industries were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POWL. Northwestern Mutual Wealth Management Co. lifted its position in shares of Powell Industries by 1,230,312.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after acquiring an additional 775,097 shares during the period. Summit Partners Public Asset Management LLC purchased a new stake in shares of Powell Industries during the 3rd quarter worth approximately $43,515,000. Rock Creek Group LP grew its holdings in shares of Powell Industries by 1,900.0% in the 4th quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock worth $47,817,000 after acquiring an additional 142,500 shares during the period. Capital World Investors acquired a new stake in shares of Powell Industries in the 4th quarter worth approximately $20,704,000. Finally, Voss Capital LP raised its holdings in Powell Industries by 18.6% during the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock worth $111,573,000 after purchasing an additional 55,000 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Weiss Ratings cut shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, Cantor Fitzgerald raised their target price on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Powell Industries currently has an average rating of “Buy” and a consensus price target of $236.67.

Powell Industries Trading Down 4.2%

Shares of POWL stock opened at $232.21 on Friday. The firm has a 50-day moving average price of $270.49 and a 200 day moving average price of $220.45. Powell Industries, Inc. has a twelve month low of $69.00 and a twelve month high of $328.00. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 3.17 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last released its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The firm had revenue of $296.62 million during 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%. Powell Industries’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $3.81 earnings per share. As a group, research analysts predict that Powell Industries, Inc. will post 5.47 earnings per share for the current year.

Powell Industries Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is presently 7.05%.

Insider Activity

In related news, CEO Brett Alan Cope sold 4,440 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer owned 517,233 shares in the company, valued at approximately $124,937,631.15. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of Powell Industries stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $323.69, for a total transaction of $809,225.00. Following the completion of the sale, the vice president directly owned 10,853 shares of the company’s stock, valued at $3,513,007.57. The trade was a 18.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,088 shares of company stock valued at $16,070,066 in the last 90 days. Insiders own 2.20% of the company’s stock.

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.