58,444 Shares in Powell Industries, Inc. $POWL Bought by Nicholas Investment Partners LP

Nicholas Investment Partners LP purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 58,444 shares of the industrial products company’s stock, valued at approximately $16,736,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of POWL. Greenline Wealth Management LLC acquired a new position in Powell Industries during the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Powell Industries by 183.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after buying an additional 68 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Powell Industries during the second quarter valued at about $33,000. State of Wyoming acquired a new position in shares of Powell Industries during the second quarter valued at about $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Powell Industries during the second quarter worth about $34,000. Institutional investors own 89.77% of the company’s stock.

Insider Activity

In related news, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the sale, the executive vice president owned 78,900 shares of the company’s stock, valued at approximately $22,458,096. This represents a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the completion of the transaction, the insider directly owned 564,736 shares in the company, valued at approximately $166,309,104.64. The trade was a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 42,898 shares of company stock worth $12,353,653. 2.20% of the stock is owned by corporate insiders.

Powell Industries Stock Down 4.4%

Powell Industries stock opened at $188.98 on Tuesday. The firm has a 50 day moving average price of $237.26 and a 200-day moving average price of $231.28. Powell Industries, Inc. has a twelve month low of $83.85 and a twelve month high of $328.00. The company has a market capitalization of $6.89 billion, a P/E ratio of 36.27, a P/E/G ratio of 2.63 and a beta of 1.18.

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

Powell Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on POWL. JPMorgan Chase & Co. upped their target price on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings downgraded Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Cantor Fitzgerald decreased their price objective on Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a report on Friday, August 14th. Finally, Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $215.42.

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.