Magnetar Financial LLC Acquires New Position in Powell Industries, Inc. $POWL

Magnetar Financial LLC bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,158 shares of the industrial products company’s stock, valued at approximately $1,506,000. Magnetar Financial LLC owned about 0.06% of Powell Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of POWL. Roman Butler Fullerton & Co. lifted its stake in shares of Powell Industries by 1.7% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 3,663 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 62 shares during the period. Cetera Investment Advisers increased its stake in Powell Industries by 1.3% in the second quarter. Cetera Investment Advisers now owns 5,000 shares of the industrial products company’s stock valued at $1,052,000 after purchasing an additional 63 shares during the last quarter. Sei Investments Co. lifted its position in Powell Industries by 2.7% during the first quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company’s stock worth $498,000 after buying an additional 77 shares during the period. Sigma Planning Corp boosted its stake in Powell Industries by 2.6% in the 2nd quarter. Sigma Planning Corp now owns 3,622 shares of the industrial products company’s stock worth $762,000 after buying an additional 91 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in Powell Industries by 168.8% in the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock valued at $29,000 after buying an additional 108 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Stock Performance

NASDAQ POWL opened at $282.05 on Friday. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.95 and a beta of 0.81. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $413.00. The company’s 50 day moving average price is $330.01 and its 200 day moving average price is $257.69.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.46. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The company had revenue of $297.98 million during the quarter, compared to analyst estimates of $292.85 million. During the same quarter in the prior year, the business earned $3.77 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be given a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $1.07 annualized dividend and a yield of 0.4%. Powell Industries’s dividend payout ratio (DPR) is 7.21%.

Insider Transactions at Powell Industries

In related news, Director John Birchall sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following the sale, the director directly owned 6,700 shares in the company, valued at approximately $1,742,201. This trade represents a 30.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael William Metcalf sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total value of $955,968.00. Following the transaction, the executive vice president directly owned 25,700 shares in the company, valued at $7,677,618. This trade represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

POWL has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Wednesday. Roth Capital reaffirmed a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research report on Wednesday. Finally, Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $331.00.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.