Powell Industries, Inc. $POWL Stake Boosted by Quantum Private Wealth LLC

Quantum Private Wealth LLC boosted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 17.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,399 shares of the industrial products company’s stock after purchasing an additional 1,830 shares during the quarter. Powell Industries accounts for about 1.1% of Quantum Private Wealth LLC’s holdings, making the stock its 16th biggest position. Quantum Private Wealth LLC’s holdings in Powell Industries were worth $3,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC purchased a new position in shares of Powell Industries in the second quarter worth approximately $33,000. State of Wyoming purchased a new stake in shares of Powell Industries in the 2nd quarter valued at approximately $33,000. Manchester Capital Management LLC boosted its stake 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 purchasing an additional 60 shares during the period. Virtus Advisers LLC purchased a new position in Powell Industries during the 2nd quarter worth approximately $46,000. Finally, Optimum Investment Advisors grew its position in Powell Industries by 114.3% during the 2nd quarter. Optimum Investment Advisors now owns 300 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 160 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, VP William Marshall Mauney, Jr. sold 3,000 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the transaction, the vice president owned 4,451 shares in the company, valued at $1,476,530.23. This represents a 40.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Treasurer David L. Eckenrode sold 295 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $570.00, for a total transaction of $168,150.00. Following the transaction, the treasurer owned 443 shares in the company, valued at $252,510. This represents a 39.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,681 shares of company stock worth $16,331,445 in the last ninety days. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Roth Mkm restated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a report on Wednesday, November 19th. Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Cantor Fitzgerald increased their price objective on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average target price of $415.50.

Powell Industries Trading Up 2.0%

Shares of NASDAQ:POWL opened at $546.82 on Monday. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 2.49 and a beta of 0.85. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $612.50. The business has a fifty day simple moving average of $426.81 and a 200 day simple moving average of $351.72.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.55. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company had revenue of $251.18 million for the quarter, compared to analyst estimates of $255.34 million. During the same period in the prior year, the firm posted $2.86 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be issued a $0.27 dividend. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, February 18th. Powell Industries’s dividend payout ratio is currently 7.02%.

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.