15,129 Shares in Powell Industries, Inc. $POWL Acquired by Van ECK Associates Corp

Van ECK Associates Corp acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, according to its most recent filing with the SEC. The fund acquired 15,129 shares of the industrial products company’s stock, valued at approximately $4,332,000.

Other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas bought a new position in shares of Powell Industries in the first quarter worth $43,000. Greenline Wealth Management LLC bought a new position in Powell Industries in the 4th quarter worth about $29,000. Hollencrest Capital Management purchased a new position in Powell Industries during the 1st quarter valued at about $54,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Powell Industries by 183.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after buying an additional 68 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Cantor Fitzgerald decreased their price target on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings lowered Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $215.42.

Powell Industries Price Performance

Shares of POWL opened at $175.16 on Friday. Powell Industries, Inc. has a 1-year low of $85.67 and a 1-year high of $328.00. The company has a market capitalization of $6.38 billion, a P/E ratio of 33.62, a P/E/G ratio of 2.27 and a beta of 1.18. The firm’s 50 day simple moving average is $218.68 and its 200 day simple moving average is $230.84.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million during the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.Powell Industries’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.96 EPS. On average, equities analysts anticipate that Powell Industries, Inc. will post 5.36 earnings per share for the current year.

Powell Industries Dividend Announcement

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 issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Powell Industries’s payout ratio is currently 6.91%.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the completion of the transaction, the insider directly owned 564,736 shares in the company, valued at approximately $166,309,104.64. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett Cope sold 4,440 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of the transaction, the chief executive officer directly owned 517,233 shares in the company, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 42,898 shares of company stock worth $12,353,653. Corporate insiders own 2.20% of the company’s stock.

About Powell Industries

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.