Kovitz Investment Group Partners LLC Has $705.48 Million Position in Powell Industries, Inc. $POWL

Kovitz Investment Group Partners LLC grew its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 42.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,314,474 shares of the industrial products company’s stock after acquiring an additional 686,588 shares during the period. Powell Industries accounts for 2.8% of Kovitz Investment Group Partners LLC’s portfolio, making the stock its 4th largest holding. Kovitz Investment Group Partners LLC owned 19.18% of Powell Industries worth $705,475,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Trust Advisors LP raised its holdings in Powell Industries by 31.7% in the 2nd quarter. First Trust Advisors LP now owns 371,016 shares of the industrial products company’s stock worth $78,080,000 after purchasing an additional 89,407 shares during the period. State Street Corp increased its position in Powell Industries by 0.9% in the second 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 in the last quarter. Invesco Ltd. raised its stake in shares of Powell Industries by 23.2% in the second quarter. Invesco Ltd. now owns 340,008 shares of the industrial products company’s stock worth $71,555,000 after buying an additional 64,029 shares during the period. Geode Capital Management LLC lifted its position in shares of Powell Industries by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 237,715 shares of the industrial products company’s stock valued at $50,033,000 after buying an additional 5,725 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd grew its stake in shares of Powell Industries by 71.3% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 185,127 shares of the industrial products company’s stock valued at $42,696,000 after acquiring an additional 77,031 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Transactions at Powell Industries

In other Powell Industries news, Treasurer David L. Eckenrode sold 295 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $570.00, for a total transaction of $168,150.00. Following the completion of the transaction, the treasurer owned 443 shares in the company, valued at $252,510. This trade represents a 39.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Thomas W. Powell sold 14,911 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $600.92, for a total value of $8,960,318.12. Following the sale, the insider directly owned 652,069 shares in the company, valued at $391,841,303.48. This trade represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,681 shares of company stock valued at $16,331,445 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

Powell Industries Stock Performance

POWL stock opened at $546.82 on Friday. The company’s fifty day moving average price is $426.81 and its 200-day moving average price is $350.86. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $612.50. The company has a market capitalization of $6.64 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.49 and a beta of 0.85.

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

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be given 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 dividend yield of 0.2%. The ex-dividend date is Wednesday, February 18th. Powell Industries’s dividend payout ratio (DPR) is presently 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.