Royce & Associates LP Reduces Stock Holdings in Powell Industries, Inc. $POWL

Royce & Associates LP lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,826 shares of the industrial products company’s stock after selling 2,054 shares during the quarter. Royce & Associates LP owned approximately 0.51% of Powell Industries worth $19,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avanza Fonder AB purchased a new stake in Powell Industries during the 4th quarter worth about $30,000. First Horizon Corp purchased a new stake in Powell Industries during the 4th quarter worth about $40,000. Larson Financial Group LLC increased its position in Powell Industries by 12,800.0% during the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 128 shares in the last quarter. Hantz Financial Services Inc. increased its position in Powell Industries by 122.6% during the 4th quarter. Hantz Financial Services Inc. now owns 138 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 76 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Powell Industries during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on POWL shares. Cantor Fitzgerald lifted their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Zacks Research cut Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average target price of $236.67.

Insider Transactions at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 149,334 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $167.41, for a total value of $25,000,004.94. Following the sale, the insider directly owned 1,796,082 shares of the company’s stock, valued at approximately $300,682,087.62. This trade represents a 7.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael William Metcalf sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total value of $1,584,000.00. Following the completion of the sale, the executive vice president directly owned 83,400 shares in the company, valued at approximately $14,678,400. The trade was a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 179,404 shares of company stock worth $32,086,304 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Trading Up 4.6%

Shares of NASDAQ:POWL opened at $291.97 on Wednesday. The stock’s 50-day moving average price is $237.15 and its two-hundred day moving average price is $173.03. Powell Industries, Inc. has a 12-month low of $54.75 and a 12-month high of $328.00. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 57.14, a PEG ratio of 3.65 and a beta of 1.14.

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

Powell Industries Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is presently 7.05%.

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.