Rock Creek Group LP Purchases New Shares in Powell Industries, Inc. $POWL

Rock Creek Group LP acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,500 shares of the industrial products company’s stock, valued at approximately $2,286,000. Rock Creek Group LP owned 0.06% of Powell Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Forge First Asset Management Inc. bought a new position in Powell Industries during the third quarter worth about $933,000. Xponance Inc. acquired a new position in shares of Powell Industries during the 3rd quarter worth approximately $228,000. Choreo LLC grew its position in shares of Powell Industries by 6.6% during the 3rd quarter. Choreo LLC now owns 1,429 shares of the industrial products company’s stock worth $435,000 after purchasing an additional 89 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Powell Industries by 41.3% during the third quarter. Intech Investment Management LLC now owns 5,604 shares of the industrial products company’s stock worth $1,708,000 after purchasing an additional 1,638 shares during the period. Finally, Patten Group Inc. acquired a new stake in shares of Powell Industries in the third quarter valued at approximately $237,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $530.88 on Friday. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $612.50. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.50 and a beta of 0.85. The firm has a 50 day simple moving average of $444.34 and a 200 day simple moving average of $358.68.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, topping 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 firm had revenue of $251.18 million for the quarter, compared to analysts’ expectations of $255.34 million. During the same quarter in the previous year, the firm posted $2.86 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. As a group, analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The company also recently announced 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 of this dividend is Wednesday, February 18th. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s payout ratio is currently 7.02%.

Insider Transactions at Powell Industries

In other news, 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 completion of the transaction, the insider owned 652,069 shares of the company’s stock, valued at $391,841,303.48. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP William Marshall Mauney, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. This trade represents a 40.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,158 shares of company stock valued at $17,160,352 over the last three months. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cantor Fitzgerald upped 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating and set a $350.00 price target on shares of Powell Industries in a report on Wednesday, November 19th. Finally, Wall Street Zen upgraded Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $415.50.

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.