Powell Industries, Inc. $POWL Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in Powell Industries, Inc. (NASDAQ:POWL) by 59.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 12,638 shares of the industrial products company’s stock after acquiring an additional 4,716 shares during the period. New York State Common Retirement Fund owned about 0.10% of Powell Industries worth $3,852,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. First Trust Advisors LP raised its position in Powell Industries by 31.7% in the second quarter. First Trust Advisors LP now owns 371,016 shares of the industrial products company’s stock valued at $78,080,000 after purchasing an additional 89,407 shares during the period. State Street Corp grew its stake in shares of Powell Industries by 0.9% in the second quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock valued at $74,100,000 after buying an additional 3,159 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Powell Industries by 23.2% in the 2nd quarter. Invesco Ltd. now owns 340,008 shares of the industrial products company’s stock valued at $71,555,000 after buying an additional 64,029 shares during the period. Geode Capital Management LLC lifted its stake in Powell Industries by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 237,715 shares of the industrial products company’s stock worth $50,033,000 after acquiring an additional 5,725 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd boosted its holdings in Powell Industries by 71.3% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 185,127 shares of the industrial products company’s stock valued at $42,696,000 after acquiring an additional 77,031 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $331.73, for a total value of $995,190.00. Following the transaction, the vice president owned 4,451 shares in the company, valued at approximately $1,476,530.23. This represents a 40.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Stock Up 8.4%

Shares of Powell Industries stock opened at $584.22 on Friday. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $588.84. The company has a market capitalization of $7.09 billion, a P/E ratio of 37.96, a P/E/G ratio of 2.45 and a beta of 0.85. The company has a 50 day moving average of $381.14 and a 200 day moving average of $326.94.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. The business had revenue of $251.18 million for the quarter, compared to analyst estimates of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $2.86 EPS. As a group, research analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be issued a dividend of $0.27 per share. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.08 dividend on an annualized basis and a yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is presently 6.95%.

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.