Powell Industries, Inc. $POWL Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 229.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 34,694 shares of the industrial products company’s stock after acquiring an additional 24,160 shares during the period. Renaissance Technologies LLC owned 0.10% of Powell Industries worth $18,772,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Powell Industries by 1,230,312.7% during the fourth 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 in the last quarter. Summit Partners Public Asset Management LLC bought a new position in Powell Industries in the 3rd quarter valued at about $43,515,000. Rock Creek Group LP grew its position in Powell Industries by 1,900.0% in the 4th quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock valued at $47,817,000 after buying an additional 142,500 shares in the last quarter. Capital World Investors acquired a new position in Powell Industries during the 4th quarter valued at about $20,704,000. Finally, Voss Capital LP raised its position in shares of Powell Industries by 18.6% during 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 in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on POWL. Weiss Ratings downgraded Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Cantor Fitzgerald boosted their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised their target price on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $236.67.

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $209.30 on Friday. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 40.96, a PEG ratio of 2.43 and a beta of 1.13. Powell Industries, Inc. has a 1-year low of $69.00 and a 1-year high of $328.00. The company has a 50 day moving average price of $265.41 and a 200 day moving average price of $223.52.

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

Powell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s payout ratio is 7.05%.

Insider Activity at Powell Industries

In other news, Director Richard E. Williams sold 5,250 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the completion of the sale, the director directly owned 39,630 shares of the company’s stock, valued at $11,856,899.70. This represents a 11.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Thomas W. Powell sold 33,958 shares of the stock in a transaction 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 completion of the transaction, the insider owned 564,736 shares of the company’s stock, valued at $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 sold 55,088 shares of company stock valued at $16,070,066 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Powell Industries 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.