Rock Creek Group LP Grows Stake in Powell Industries, Inc. $POWL

Rock Creek Group LP increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 1,900.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 150,000 shares of the industrial products company’s stock after buying an additional 142,500 shares during the period. Powell Industries makes up 5.0% of Rock Creek Group LP’s holdings, making the stock its 8th biggest holding. Rock Creek Group LP’s holdings in Powell Industries were worth $47,817,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Avanza Fonder AB acquired a new stake in Powell Industries in the fourth quarter valued at approximately $30,000. First Horizon Corp acquired a new stake in Powell Industries in the fourth quarter valued at approximately $40,000. Larson Financial Group LLC boosted its stake in Powell Industries by 12,800.0% in the fourth quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 128 shares in the last quarter. Huntington National Bank boosted its stake in Powell Industries by 74.0% in the fourth quarter. Huntington National Bank now owns 134 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 57 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Powell Industries by 122.6% in the fourth quarter. Hantz Financial Services Inc. now owns 138 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 76 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 149,334 shares of Powell Industries stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $167.41, for a total transaction of $25,000,004.94. Following the completion of the sale, the insider directly owned 1,796,082 shares in the company, valued at approximately $300,682,087.62. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard E. Williams sold 5,250 shares of Powell Industries stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the sale, the director owned 39,630 shares of the company’s stock, valued at $11,856,899.70. The trade was a 11.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 179,404 shares of company stock valued at $32,086,304. Company insiders own 2.20% of the company’s stock.

Powell Industries Trading Down 1.6%

NASDAQ:POWL opened at $284.42 on Friday. Powell Industries, Inc. has a 12 month low of $54.75 and a 12 month high of $328.00. The firm has a fifty day simple moving average of $244.30 and a 200-day simple moving average of $176.17. The company has a market capitalization of $10.36 billion, a P/E ratio of 55.66, a PEG ratio of 3.77 and a beta of 1.14.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The company had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. During the same quarter in the previous year, the firm posted $3.81 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Powell Industries, Inc. will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, May 20th. Powell Industries’s payout ratio is presently 7.05%.

Analysts Set New Price Targets

POWL has been the subject of several recent analyst reports. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. JPMorgan Chase & Co. raised their target price on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Cantor Fitzgerald raised their target price on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Powell Industries has a consensus rating of “Moderate Buy” and an average target price of $236.67.

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.