Hel Ved Capital Management Ltd Purchases Shares of 4,200 Powell Industries, Inc. $POWL

Hel Ved Capital Management Ltd acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, HoldingsChannel reports. The fund acquired 4,200 shares of the industrial products company’s stock, valued at approximately $1,280,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kovitz Investment Group Partners LLC increased its holdings in shares of Powell Industries by 42.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock valued at $705,475,000 after purchasing an additional 686,588 shares in the last quarter. First Trust Advisors LP boosted its holdings in Powell Industries by 65.8% during the third quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock worth $187,479,000 after buying an additional 244,051 shares in the last quarter. State Street Corp grew its position in Powell Industries by 0.9% during the second quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock valued at $74,100,000 after buying an additional 3,159 shares during the period. Invesco Ltd. increased its holdings in Powell Industries by 23.2% in the second quarter. Invesco Ltd. now owns 340,008 shares of the industrial products company’s stock valued at $71,555,000 after buying an additional 64,029 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Powell Industries by 49.8% in the third quarter. Fisher Asset Management LLC now owns 300,496 shares of the industrial products company’s stock worth $91,594,000 after acquiring an additional 99,857 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Transactions at Powell Industries

In other Powell Industries news, insider Ping Ni sold 70 shares of Powell Industries stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $590.00, for a total transaction of $41,300.00. Following the sale, the insider owned 2,023 shares of the company’s stock, valued at $1,193,570. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Treasurer David L. Eckenrode sold 295 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $570.00, for a total transaction of $168,150.00. Following the completion of the sale, the treasurer owned 443 shares of the company’s stock, valued at $252,510. This trade represents a 39.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,158 shares of company stock worth $17,160,352. Company insiders own 2.20% of the company’s stock.

Powell Industries Trading Down 3.8%

NASDAQ:POWL opened at $483.65 on Friday. The stock has a 50 day moving average of $465.25 and a two-hundred day moving average of $369.12. Powell Industries, Inc. has a 12 month low of $152.40 and a 12 month high of $612.50. The firm has a market cap of $5.87 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 2.29 and a beta of 0.82.

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

Powell Industries Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald raised their target price on Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Glj Research assumed coverage on Powell Industries in a report on Thursday. They issued a “hold” rating and a $450.00 price objective on the stock. Roth Mkm reaffirmed a “buy” rating and set a $350.00 target price on shares of Powell Industries in a research note on Wednesday, November 19th. Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $427.00.

Powell Industries 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.