Triasima Portfolio Management inc. Makes New $689,000 Investment in Powell Industries, Inc. $POWL

Triasima Portfolio Management inc. purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the third quarter, HoldingsChannel reports. The fund purchased 2,260 shares of the industrial products company’s stock, valued at approximately $689,000.

Other hedge funds also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC bought a new position in Powell Industries in the 2nd quarter worth about $33,000. State of Wyoming bought a new stake in Powell Industries during the 2nd quarter valued at $33,000. Manchester Capital Management LLC lifted its position in shares of 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 bought a new position in shares of Powell Industries during the second quarter valued at approximately $46,000. Finally, Morgan Dempsey Capital Management LLC bought a new stake in Powell Industries during the second quarter valued at about $52,000. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Stock Down 1.6%

POWL stock opened at $413.11 on Tuesday. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $446.11. The company’s 50-day simple moving average is $341.33 and its 200-day simple moving average is $304.53. The firm has a market cap of $5.02 billion, a P/E ratio of 27.82, a PEG ratio of 1.97 and a beta of 0.86.

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

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were paid a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, November 19th. Powell Industries’s payout ratio is 7.21%.

Insider Activity

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $331.73, for a total value of $995,190.00. Following the completion of the sale, the vice president directly owned 4,451 shares in the company, valued at $1,476,530.23. This represents a 40.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on POWL. Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Finally, Roth Capital reiterated a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a report on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Powell Industries has a consensus rating of “Buy” and an average price target of $350.00.

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.