Sei Investments Co. Boosts Position in Powell Industries, Inc. $POWL

Sei Investments Co. raised its position in Powell Industries, Inc. (NASDAQ:POWL) by 111.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,199 shares of the industrial products company’s stock after purchasing an additional 8,522 shares during the period. Sei Investments Co.’s holdings in Powell Industries were worth $8,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in POWL. Greenline Wealth Management LLC purchased a new stake in shares of Powell Industries in the 4th quarter worth about $29,000. Hollencrest Capital Management purchased a new position in Powell Industries during the 1st quarter valued at about $54,000. Steward Partners Investment Advisory LLC raised its position in Powell Industries by 126.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 63 shares during the last quarter. First Horizon Corp acquired a new position in Powell Industries during the fourth quarter worth about $40,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Powell Industries by 12,800.0% in the fourth quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $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.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $208.46 on Friday. The firm has a market cap of $7.59 billion, a P/E ratio of 40.79, a price-to-earnings-growth ratio of 2.72 and a beta of 1.13. Powell Industries, Inc. has a 1 year low of $69.00 and a 1 year high of $328.00. The firm’s 50 day moving average price is $263.99 and its 200 day moving average price is $223.42.

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

Powell Industries Cuts Dividend

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

Analyst Ratings Changes

POWL has been the topic of several research reports. Weiss Ratings lowered shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Cantor Fitzgerald upped their target price on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Zacks Research cut Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their price objective on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Powell Industries currently has a consensus rating of “Buy” and an average target price of $236.67.

Insider Activity

In other Powell Industries news, EVP Michael William Metcalf sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the sale, the executive vice president directly owned 78,900 shares of the company’s stock, valued at approximately $22,458,096. This trade represents a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Powell Industries stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the completion of the sale, the insider owned 564,736 shares of the company’s stock, valued at $166,309,104.64. This trade represents a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 55,088 shares of company stock valued at $16,070,066 in the last three months. Company insiders own 2.20% of the company’s stock.

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.