Royce & Associates LP Has $19.47 Million Position in Powell Industries, Inc. $POWL

Royce & Associates LP lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 6.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 63,880 shares of the industrial products company’s stock after selling 4,307 shares during the quarter. Royce & Associates LP’s holdings in Powell Industries were worth $19,471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of POWL. Royal Bank of Canada lifted its position in Powell Industries by 1.5% during the first quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock worth $5,251,000 after acquiring an additional 461 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Powell Industries by 7.9% during the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock worth $1,075,000 after purchasing an additional 461 shares during the period. Jones Financial Companies Lllp lifted its holdings in Powell Industries by 1,221.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 1,282 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Powell Industries by 4.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock valued at $4,841,000 after purchasing an additional 1,311 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Powell Industries by 18.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 82,105 shares of the industrial products company’s stock valued at $17,279,000 after buying an additional 12,927 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on POWL shares. Roth Mkm reiterated a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a research report on Wednesday, November 19th. Cantor Fitzgerald raised their price target on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $415.50.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 14,911 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $600.92, for a total transaction of $8,960,318.12. Following the completion of the transaction, the insider owned 652,069 shares of the company’s stock, valued at approximately $391,841,303.48. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ping Ni sold 70 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $590.00, for a total transaction of $41,300.00. Following the completion of the sale, the insider owned 2,023 shares in the company, valued at approximately $1,193,570. The trade was a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,158 shares of company stock worth $17,160,352. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Down 1.4%

POWL stock opened at $523.60 on Monday. The company’s 50-day moving average price is $448.15 and its two-hundred day moving average price is $361.83. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $612.50. The firm has a market cap of $6.36 billion, a P/E ratio of 34.02, a P/E/G ratio of 2.38 and a beta of 0.82.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The business had revenue of $251.18 million for the quarter, compared to analysts’ expectations of $255.34 million. During the same period last year, the firm posted $2.86 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.2%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 18th. Powell Industries’s payout ratio is 7.02%.

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.