Tema ETFs LLC Buys 184,010 Shares of Powell Industries, Inc. $POWL

Tema ETFs LLC lifted its stake in Powell Industries, Inc. (NASDAQ:POWL) by 217.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 268,692 shares of the industrial products company’s stock after acquiring an additional 184,010 shares during the quarter. Powell Industries makes up approximately 2.5% of Tema ETFs LLC’s investment portfolio, making the stock its 5th largest position. Tema ETFs LLC owned approximately 0.74% of Powell Industries worth $76,943,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Greenline Wealth Management LLC acquired a new stake in shares of Powell Industries during the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB increased its position in 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 worth $30,000 after acquiring an additional 68 shares during the period. State of Wyoming bought a new position in Powell Industries during the second quarter worth about $33,000. Steward Partners Investment Advisory LLC raised its stake in Powell Industries by 126.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in Powell Industries in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analysts Set New Price Targets

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

Powell Industries Stock Up 0.6%

Powell Industries stock opened at $208.38 on Wednesday. Powell Industries, Inc. has a 12-month low of $78.50 and a 12-month high of $328.00. The firm’s fifty 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 PE ratio of 40.00, a PEG 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The firm had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.Powell Industries’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.96 earnings per share. Sell-side analysts expect that Powell Industries, Inc. will post 5.34 EPS for the current fiscal year.

Powell Industries Announces Dividend

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

Insider Activity at Powell Industries

In other news, EVP Michael William Metcalf sold 4,500 shares of the company’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 transaction of $1,280,880.00. Following the sale, the executive vice president owned 78,900 shares in the company, valued at $22,458,096. This represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. The trade was a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 52,588 shares of company stock valued at $15,260,841 over the last quarter. 2.20% of the stock is currently owned by insiders.

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.