Voss Capital LP Raises Stock Position in Powell Industries, Inc. $POWL

Voss Capital LP raised its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 59.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 295,000 shares of the industrial products company’s stock after purchasing an additional 110,140 shares during the period. Powell Industries accounts for approximately 4.3% of Voss Capital LP’s holdings, making the stock its 10th biggest position. Voss Capital LP owned approximately 2.44% of Powell Industries worth $89,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of POWL. Truist Financial Corp boosted its position in shares of Powell Industries by 42.9% during the third quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock worth $4,585,000 after buying an additional 4,519 shares during the period. Tema Etfs LLC increased its position in Powell Industries by 281.6% in the 3rd quarter. Tema Etfs LLC now owns 53,170 shares of the industrial products company’s stock valued at $16,207,000 after acquiring an additional 39,238 shares during the period. Stephens Investment Management Group LLC increased its position in Powell Industries by 6.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 89,669 shares of the industrial products company’s stock valued at $27,332,000 after acquiring an additional 5,455 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Powell Industries by 32.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 56,620 shares of the industrial products company’s stock valued at $17,961,000 after acquiring an additional 14,013 shares in the last quarter. Finally, Littlejohn Financial Services Inc. bought a new stake in Powell Industries during the 3rd quarter valued at $1,078,000. Institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

POWL opened at $522.12 on Wednesday. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.29 and a beta of 0.82. Powell Industries, Inc. has a 1-year low of $152.89 and a 1-year high of $612.50. The business has a 50 day moving average price of $490.05 and a two-hundred day moving average price of $383.17.

Powell Industries’s stock is scheduled to split on Monday, April 6th. The 3-1 split was recently announced. The newly issued shares will be issued to shareholders after the closing bell on Sunday, April 5th.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. The company had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.86 EPS. Equities analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.2%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 18th. Powell Industries’s dividend payout ratio (DPR) is presently 7.02%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Roth Mkm reissued a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Cantor Fitzgerald lifted their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Glj Research started coverage on shares of Powell Industries in a research report on Thursday, March 5th. They issued a “hold” rating and a $450.00 target price for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $427.00.

Insider Transactions at Powell Industries

In other Powell Industries news, Treasurer David L. Eckenrode sold 295 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $570.00, for a total value of $168,150.00. Following the completion of the sale, the treasurer directly owned 443 shares of the company’s stock, valued at approximately $252,510. This represents a 39.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Thomas W. Powell sold 318 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $560.37, for a total transaction of $178,197.66. Following the transaction, the insider owned 650,472 shares of the company’s stock, valued at approximately $364,504,994.64. This trade represents a 0.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 31,638 shares of company stock valued at $17,907,456 in the last quarter. 2.20% of the stock is owned by company insiders.

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.