Powell Industries, Inc. $POWL Shares Acquired by Tema ETFs LLC

Tema ETFs LLC increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 217.3% in the second quarter, HoldingsChannel reports. The firm owned 268,692 shares of the industrial products company’s stock after buying an additional 184,010 shares during the period. Powell Industries makes up 2.5% of Tema ETFs LLC’s portfolio, making the stock its 5th largest position. Tema ETFs LLC’s holdings in Powell Industries were worth $76,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Alps Advisors Inc. lifted its position 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 valued at $510,000 after buying an additional 18 shares during the last quarter. CWM LLC increased its holdings in shares of Powell Industries by 2.0% during the 4th quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock worth $389,000 after acquiring an additional 24 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake 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 period. Maryland State Retirement & Pension System raised its position in shares of Powell Industries by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 27 shares during the period. Finally, Cornerstone Investment Partners LLC raised its holdings 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 valued at $609,000 after acquiring an additional 30 shares during the period. Institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $208.38 on Wednesday. Powell Industries, Inc. has a 1 year low of $78.50 and a 1 year high of $328.00. The business’s 50-day moving average is $252.92 and its 200-day moving average is $227.66. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 40.00, a P/E/G ratio of 2.77 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. During the same quarter in the previous year, the firm posted $3.96 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts anticipate that Powell Industries, Inc. will post 5.34 EPS for the current year.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s payout ratio is currently 6.91%.

Insider Activity at Powell Industries

In other news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were 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 in the company, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard E. Williams sold 5,250 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the transaction, the director directly owned 39,630 shares in the company, valued at $11,856,899.70. This trade represents a 11.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 52,588 shares of company stock worth $15,260,841 over the last quarter. 2.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on POWL. JPMorgan Chase & Co. increased their price objective on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. 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. Weiss Ratings downgraded Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “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.