Sei Investments Co. Raises Holdings in Powell Industries, Inc. $POWL

Sei Investments Co. boosted its position in Powell Industries, Inc. (NASDAQ:POWL) by 111.0% during the first quarter, Holdings Channel.com reports. The fund owned 16,199 shares of the industrial products company’s stock after purchasing an additional 8,522 shares during the quarter. Sei Investments Co.’s holdings in Powell Industries were worth $8,765,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Greenline Wealth Management LLC acquired a new stake in Powell Industries during the fourth quarter worth about $29,000. State of Wyoming acquired a new position in shares of Powell Industries in the 2nd quarter valued at about $33,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the period. First Horizon Corp acquired a new stake in Powell Industries during the 4th quarter worth approximately $40,000. Finally, Larson Financial Group LLC increased its position in Powell Industries by 12,800.0% during the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Powell Industries news, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00. Following the transaction, the chief executive officer owned 517,233 shares in the company, valued at $124,937,631.15. The trade was a 0.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $323.69, for a total transaction of $809,225.00. Following the completion of the transaction, the vice president directly owned 10,853 shares of the company’s stock, valued at approximately $3,513,007.57. The trade was a 18.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,088 shares of company stock worth $16,070,066 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Stock Down 0.4%

NASDAQ POWL opened at $208.46 on Friday. Powell Industries, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $328.00. The business has a 50 day moving average price of $263.99 and a two-hundred day moving average price of $223.42. The stock has a market cap of $7.59 billion, a PE ratio of 40.79, a P/E/G ratio of 2.72 and a beta of 1.13.

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

Powell Industries Cuts Dividend

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

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.