Liberty Capital Management Inc. Boosts Stock Holdings in Powell Industries, Inc. $POWL

Liberty Capital Management Inc. raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 18.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,779 shares of the industrial products company’s stock after purchasing an additional 1,233 shares during the quarter. Liberty Capital Management Inc. owned about 0.06% of Powell Industries worth $2,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truist Financial Corp grew its position in Powell Industries by 42.9% during the third quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock valued at $4,585,000 after acquiring an additional 4,519 shares during the period. Tema Etfs LLC raised its holdings in shares of Powell Industries by 281.6% in the 3rd quarter. Tema Etfs LLC now owns 53,170 shares of the industrial products company’s stock worth $16,207,000 after purchasing an additional 39,238 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of 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 purchasing an additional 5,455 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 worth $17,961,000 after purchasing an additional 14,013 shares during the period. Finally, Littlejohn Financial Services Inc. purchased a new stake in shares of Powell Industries during the 3rd quarter worth about $1,078,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Powell Industries

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of Powell Industries stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $331.73, for a total transaction of $995,190.00. Following the sale, the vice president directly owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. The trade was a 40.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Powell Industries Stock Up 1.5%

POWL opened at $570.26 on Wednesday. The firm’s 50 day moving average is $390.94 and its 200-day moving average is $332.86. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $593.76. The firm has a market capitalization of $6.92 billion, a P/E ratio of 37.05, a P/E/G ratio of 2.56 and a beta of 0.85.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share 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 business had revenue of $251.18 million during the quarter, compared to the consensus estimate of $255.34 million. During the same period in the prior year, the firm earned $2.86 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities 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 announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th will be paid a dividend of $0.27 per share. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 18th. Powell Industries’s payout ratio is 6.95%.

Analyst Upgrades and Downgrades

Several research firms recently commented on POWL. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Cantor Fitzgerald increased their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Roth Mkm reissued a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research note on Wednesday, November 19th. Finally, Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $415.50.

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.