Cypress Asset Management Inc. TX Grows Stock Holdings in Powell Industries, Inc. $POWL

Cypress Asset Management Inc. TX raised its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 200.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 15,330 shares of the industrial products company’s stock after acquiring an additional 10,220 shares during the period. Cypress Asset Management Inc. TX’s holdings in Powell Industries were worth $4,390,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital World Investors acquired a new stake in Powell Industries in the 4th quarter worth about $20,704,000. Voss Capital LP lifted its holdings 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 acquiring an additional 55,000 shares during the period. Private Advisory Group LLC purchased a new position in shares of Powell Industries during the 2nd quarter worth about $14,158,000. Convergence Investment Partners LLC acquired a new stake in shares of Powell Industries in the fourth quarter worth approximately $1,409,000. Finally, Rock Creek Group LP grew its holdings in Powell Industries by 1,900.0% in the fourth quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock valued at $47,817,000 after purchasing an additional 142,500 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Cantor Fitzgerald decreased their price target on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Weiss Ratings cut shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. increased their target price on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Two investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $215.42.

Insider Activity at Powell Industries

In related news, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of the sale, the chief executive officer directly owned 517,233 shares in the company, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael William Metcalf sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the transaction, the executive vice president directly owned 78,900 shares in the company, valued at $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 42,898 shares of company stock worth $12,353,653. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

NASDAQ POWL opened at $203.55 on Wednesday. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 39.07, a PEG ratio of 2.84 and a beta of 1.18. Powell Industries, Inc. has a one year low of $78.50 and a one year high of $328.00. The company’s 50 day moving average price is $244.64 and its 200 day moving average price is $229.99.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business had revenue of $311.74 million for the quarter, compared to analysts’ expectations of $316.70 million. During the same quarter in the prior year, the firm earned $3.96 earnings per share. Powell Industries’s quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts forecast that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Powell Industries’s dividend payout ratio is 6.91%.

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.