Voss Capital LP Acquires New Holdings in Powell Industries, Inc. $POWL

Voss Capital LP bought a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 184,860 shares of the industrial products company’s stock, valued at approximately $38,904,000. Powell Industries accounts for about 2.7% of Voss Capital LP’s investment portfolio, making the stock its 14th largest holding.

A number of other large investors have also recently added to or reduced their stakes in POWL. Truist Financial Corp lifted its stake in shares of Powell Industries by 69.9% in the second quarter. Truist Financial Corp now owns 10,522 shares of the industrial products company’s stock worth $2,214,000 after buying an additional 4,329 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Powell Industries by 1,010.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 42,607 shares of the industrial products company’s stock valued at $8,949,000 after buying an additional 38,769 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Powell Industries by 18.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 82,105 shares of the industrial products company’s stock worth $17,279,000 after acquiring an additional 12,927 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Powell Industries during the 2nd quarter worth $3,182,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Powell Industries during the 2nd quarter worth $242,000. Institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

POWL has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Powell Industries in a research report on Monday, December 1st. Wall Street Zen upgraded Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Roth Capital reaffirmed a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a report on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $331.00.

Insider Buying and Selling at Powell Industries

In other news, 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 transaction of $955,968.00. Following the sale, the executive vice president directly owned 25,700 shares in the company, valued at approximately $7,677,618. The trade was a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

NASDAQ:POWL opened at $342.13 on Monday. The firm’s 50-day moving average is $335.36 and its 200-day moving average is $268.17. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.60 and a beta of 0.87. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $413.00.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $292.85 million. During the same quarter last year, the company earned $3.77 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The company 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 is Wednesday, November 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is currently 7.21%.

Powell Industries 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.