Inceptionr LLC Acquires New Shares in Powell Industries, Inc. $POWL

Inceptionr LLC acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,365 shares of the industrial products company’s stock, valued at approximately $416,000.

A number of other hedge funds have also bought and sold shares of POWL. Elevation Point Wealth Partners LLC bought a new position in Powell Industries during the 2nd quarter valued at about $33,000. State of Wyoming purchased a new stake in shares of Powell Industries during the 2nd quarter valued at about $33,000. Manchester Capital Management LLC grew its stake in shares of Powell Industries by 42.9% in the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 60 shares during the period. Virtus Advisers LLC purchased a new position in shares of Powell Industries during the second quarter valued at approximately $46,000. Finally, AlphaQuest LLC raised its holdings in shares of Powell Industries by 30.7% during the third quarter. AlphaQuest LLC now owns 400 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Down 2.7%

Shares of NASDAQ:POWL opened at $515.20 on Thursday. The stock has a market capitalization of $6.25 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 2.37 and a beta of 0.82. The firm’s 50 day moving average price is $476.90 and its 200-day moving average price is $375.55. Powell Industries, Inc. has a twelve month low of $152.89 and a twelve month high of $612.50.

Shares of Powell Industries are set to split before the market opens on Monday, April 6th. The 3-1 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Sunday, April 5th.

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

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, February 18th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s payout ratio is presently 7.02%.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 318 shares of Powell Industries stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $560.37, for a total transaction of $178,197.66. Following the transaction, the insider directly owned 650,472 shares in the company, valued at approximately $364,504,994.64. The trade was a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ping Ni sold 70 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $590.00, for a total value of $41,300.00. Following the sale, the insider directly owned 2,023 shares of the company’s stock, valued at $1,193,570. This represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,158 shares of company stock valued at $17,160,352. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald increased their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. 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. Wall Street Zen lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Finally, Roth Mkm restated a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $427.00.

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.