Fisher Asset Management LLC Buys 16,777 Shares of Powell Industries, Inc. $POWL

Fisher Asset Management LLC boosted its stake in Powell Industries, Inc. (NASDAQ:POWL) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 317,273 shares of the industrial products company’s stock after acquiring an additional 16,777 shares during the period. Fisher Asset Management LLC’s holdings in Powell Industries were worth $101,140,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its holdings in Powell Industries by 122.6% in the fourth quarter. Hantz Financial Services Inc. now owns 138 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 76 shares during the last quarter. Legato Capital Management LLC boosted its holdings in shares of Powell Industries by 40.7% during the 4th quarter. Legato Capital Management LLC now owns 3,200 shares of the industrial products company’s stock worth $1,020,000 after buying an additional 925 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Powell Industries by 32.5% during the 4th quarter. Global Retirement Partners LLC now owns 253 shares of the industrial products company’s stock worth $81,000 after buying an additional 62 shares in the last quarter. Quantum Private Wealth LLC boosted its holdings in shares of Powell Industries by 8.3% during the 4th quarter. Quantum Private Wealth LLC now owns 13,424 shares of the industrial products company’s stock worth $4,279,000 after buying an additional 1,025 shares in the last quarter. Finally, Intrust Bank NA boosted its holdings in shares of Powell Industries by 27.7% during the 4th quarter. Intrust Bank NA now owns 1,253 shares of the industrial products company’s stock worth $399,000 after buying an additional 272 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $279.22 on Tuesday. Powell Industries, Inc. has a twelve month low of $54.75 and a twelve month high of $328.00. The stock’s 50 day moving average is $234.67 and its 200-day moving average is $171.90. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 54.64, a PEG ratio of 3.65 and a beta of 1.14.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The firm had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. During the same period in the previous year, the company earned $3.81 earnings per share. Powell Industries’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, May 20th. Powell Industries’s dividend payout ratio is presently 7.05%.

Insider Activity at Powell Industries

In other news, VP William Marshall Mauney, Jr. sold 2,500 shares of the company’s 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 transaction, the vice president directly owned 10,853 shares of the company’s stock, valued at $3,513,007.57. This represents a 18.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael William Metcalf sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total value of $1,584,000.00. Following the transaction, the executive vice president directly owned 83,400 shares in the company, valued at $14,678,400. The trade was a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 180,358 shares of company stock valued at $32,264,502 over the last three months. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

POWL has been the topic of a number of research analyst reports. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. JPMorgan Chase & Co. increased their price target on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Glj Research initiated coverage on Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.67.

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.