47,349 Shares in Powell Industries, Inc. $POWL Bought by Danske Bank A S

Danske Bank A S purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,349 shares of the industrial products company’s stock, valued at approximately $13,559,000. Danske Bank A S owned 0.13% of Powell Industries as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of POWL. BlackRock Inc. bought a new stake in Powell Industries in the second quarter valued at approximately $1,033,376,000. Northwestern Mutual Wealth Management Co. increased its holdings in Powell Industries by 1,230,312.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after purchasing an additional 775,097 shares during the period. Vanguard Group Inc. raised its position in Powell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock valued at $225,263,000 after purchasing an additional 6,419 shares during the last quarter. State Street Corp lifted its holdings in Powell Industries by 0.9% in the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after buying an additional 3,159 shares during the period. Finally, Voss Capital LP lifted its holdings in Powell Industries by 18.6% in the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock worth $111,573,000 after buying an additional 55,000 shares during the period. 89.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

POWL has been the topic of several research analyst reports. Weiss Ratings cut Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Cantor Fitzgerald decreased their price objective on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.42.

Insider Buying and Selling

In related news, EVP Michael William Metcalf sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the completion of the transaction, the executive vice president owned 78,900 shares of the company’s stock, valued at $22,458,096. This trade represents a 5.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the transaction, the insider directly owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. This trade represents a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,898 shares of company stock worth $12,353,653 in the last 90 days. Insiders own 2.20% of the company’s stock.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $197.40 on Friday. Powell Industries, Inc. has a 1 year low of $81.27 and a 1 year high of $328.00. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 2.64 and a beta of 1.18. The company has a 50-day moving average of $241.49 and a 200 day moving average of $230.66.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business had revenue of $311.74 million during the quarter, compared to analysts’ expectations of $316.70 million. During the same quarter last year, the company posted $3.96 EPS. Powell Industries’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is presently 6.91%.

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.