Hodges Capital Management Inc. Sells 4,657 Shares of Powell Industries, Inc. $POWL

Hodges Capital Management Inc. reduced its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 51,783 shares of the industrial products company’s stock after selling 4,657 shares during the quarter. Powell Industries comprises approximately 1.4% of Hodges Capital Management Inc.’s holdings, making the stock its 19th largest holding. Hodges Capital Management Inc. owned 0.43% of Powell Industries worth $16,507,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of POWL. Avanza Fonder AB bought a new stake in Powell Industries in the fourth quarter worth $30,000. State of Wyoming bought a new stake in Powell Industries in the second quarter worth $33,000. First Horizon Corp bought a new stake in Powell Industries in the fourth quarter worth $40,000. Larson Financial Group LLC lifted its position in Powell Industries by 12,800.0% in the fourth quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock worth $41,000 after buying an additional 128 shares during the last quarter. Finally, Huntington National Bank lifted its position in Powell Industries by 74.0% in the fourth quarter. Huntington National Bank now owns 134 shares of the industrial products company’s stock worth $43,000 after buying an additional 57 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on POWL. Cantor Fitzgerald raised their price target on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Glj Research began coverage on Powell Industries in a research report on Thursday, March 5th. They issued a “hold” rating and a $150.00 price target for the company. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their price target on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $236.67.

Powell Industries Stock Down 7.5%

POWL stock opened at $262.34 on Thursday. The business’s fifty day simple moving average is $261.90 and its two-hundred day simple moving average is $186.71. Powell Industries, Inc. has a twelve month low of $56.70 and a twelve month high of $328.00. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 51.34, a PEG ratio of 3.70 and a beta of 1.11.

Powell Industries (NASDAQ:POWL) last released its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million during the quarter, compared to analysts’ expectations of $298.12 million. During the same quarter in the previous year, the business earned $3.81 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts expect that Powell Industries, Inc. will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. Powell Industries’s dividend payout ratio (DPR) is presently 7.05%.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 149,334 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $167.41, for a total value of $25,000,004.94. Following the sale, the insider owned 1,796,082 shares in the company, valued at $300,682,087.62. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $301.00, for a total value of $1,336,440.00. Following the completion of the sale, the chief executive officer owned 490,113 shares in the company, valued at approximately $147,524,013. The trade was a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 174,964 shares of company stock valued at $31,339,200. Insiders own 2.20% of the company’s stock.

Powell Industries Company 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.