First Trust Advisors LP Grows Holdings in Powell Industries, Inc. $POWL

First Trust Advisors LP raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 65.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 615,067 shares of the industrial products company’s stock after purchasing an additional 244,051 shares during the quarter. First Trust Advisors LP owned 0.05% of Powell Industries worth $187,479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC purchased a new position in Powell Industries in the second quarter worth $33,000. State of Wyoming purchased a new stake in Powell Industries during the second quarter valued at about $33,000. Manchester Capital Management LLC lifted its stake in Powell Industries by 42.9% during the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. Virtus Advisers LLC bought a new stake in Powell Industries during the second quarter worth about $46,000. Finally, AlphaQuest LLC boosted its holdings in shares of Powell Industries by 30.7% in the 3rd quarter. AlphaQuest LLC now owns 400 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Activity

In other Powell Industries news, major shareholder Thomas W. Powell sold 318 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $560.37, for a total value of $178,197.66. Following the transaction, the insider owned 650,472 shares in the company, valued at approximately $364,504,994.64. The trade was a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer David L. Eckenrode sold 295 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $570.00, for a total transaction of $168,150.00. Following the transaction, the treasurer directly owned 443 shares of the company’s stock, valued at approximately $252,510. This trade represents a 39.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 30,158 shares of company stock valued at $17,160,352. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Roth Mkm reiterated a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research report on Wednesday, November 19th. Glj Research assumed coverage on shares of Powell Industries in a research note on Thursday. They set a “hold” rating and a $450.00 price target on the stock. Finally, Cantor Fitzgerald boosted their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $427.00.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $483.65 on Friday. The business’s 50 day simple moving average is $465.25 and its two-hundred day simple moving average is $369.92. The stock has a market capitalization of $5.87 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. Powell Industries, Inc. has a one year low of $152.40 and a one year high of $612.50.

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

Powell Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, February 18th. This represents a $1.08 dividend on an annualized basis and a yield of 0.2%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio (DPR) is currently 7.02%.

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.