Encompass Capital Advisors LLC Buys New Holdings in Powell Industries, Inc. $POWL

Encompass Capital Advisors LLC purchased a new position in Powell Industries, Inc. (NASDAQ:POWL) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 40,000 shares of the industrial products company’s stock, valued at approximately $21,643,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Alps Advisors Inc. lifted its holdings in shares of Powell Industries by 1.1% in the fourth quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company’s stock worth $510,000 after buying an additional 18 shares in the last quarter. CWM LLC grew its stake in Powell Industries by 2.0% during the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock valued at $389,000 after acquiring an additional 24 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Powell Industries by 3.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 25 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in Powell Industries by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 27 shares during the last quarter. Finally, Cornerstone Investment Partners LLC lifted its stake in Powell Industries by 1.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,911 shares of the industrial products company’s stock worth $609,000 after purchasing an additional 30 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Stock Down 5.6%

NASDAQ POWL opened at $219.23 on Tuesday. Powell Industries, Inc. has a 52 week low of $69.00 and a 52 week high of $328.00. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 3.03 and a beta of 1.13. The company has a fifty day moving average of $269.54 and a two-hundred day moving average of $221.86.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing the consensus estimate 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%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.81 EPS. Equities research analysts anticipate that Powell Industries, Inc. will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on POWL shares. Weiss Ratings lowered Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. raised their price target on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. 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 research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $236.67.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the transaction, the insider owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael William Metcalf sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the sale, the executive vice president directly owned 78,900 shares of the company’s stock, valued at $22,458,096. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 55,088 shares of company stock valued at $16,070,066. 2.20% of the stock is owned by company insiders.

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.