Powell Industries, Inc. $POWL Shares Acquired by Tema Etfs LLC

Tema Etfs LLC increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 34.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,932 shares of the industrial products company’s stock after purchasing an additional 3,600 shares during the period. Tema Etfs LLC owned 0.12% of Powell Industries worth $2,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC acquired a new position in shares of Powell Industries during the second quarter worth about $33,000. Brooklyn Investment Group lifted its position in Powell Industries by 168.8% during the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Powell Industries by 42.9% in the 2nd quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 60 shares during the period. Harbour Investments Inc. grew its position in Powell Industries by 1,970.0% in the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 197 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new stake in Powell Industries in the second quarter valued at approximately $46,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Michael William Metcalf sold 3,200 shares of Powell Industries 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 completion of the transaction, the executive vice president owned 25,700 shares in the company, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

POWL has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Powell Industries in a research report on Monday. Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Roth Capital reissued a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a research report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $331.00.

Powell Industries Price Performance

NASDAQ POWL opened at $336.93 on Friday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.51 and a beta of 0.87. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $413.00. The company’s fifty day moving average price is $334.33 and its two-hundred day moving average price is $265.81.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.46. Powell Industries had a net margin of 16.37% and a return on equity of 31.80%. The business had revenue of $297.98 million for the quarter, compared to analyst estimates of $292.85 million. During the same quarter in the prior year, the business posted $3.77 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Powell Industries’s dividend payout ratio (DPR) is currently 7.21%.

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.