WINTON GROUP Ltd Acquires 61,989 Shares of Powell Industries, Inc. $POWL

WINTON GROUP Ltd lifted its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 204.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 92,344 shares of the industrial products company’s stock after buying an additional 61,989 shares during the period. Powell Industries makes up approximately 0.8% of WINTON GROUP Ltd’s portfolio, making the stock its 16th largest position. WINTON GROUP Ltd’s holdings in Powell Industries were worth $26,444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. California State Teachers Retirement System increased its position in Powell Industries by 85,706.4% during the second quarter. California State Teachers Retirement System now owns 9,671,236 shares of the industrial products company’s stock worth $2,769,455,000 after buying an additional 9,659,965 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Powell Industries in the second quarter worth about $1,033,376,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Powell Industries by 1,230,312.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock worth $247,106,000 after buying an additional 775,097 shares during the last quarter. State Street Corp boosted its stake in shares of Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after acquiring an additional 3,159 shares in the last quarter. Finally, Voss Capital LP boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Cantor Fitzgerald cut their price objective on Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Weiss Ratings cut Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 19th. Finally, Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $215.42.

Powell Industries Trading Down 1.2%

Shares of Powell Industries stock opened at $180.26 on Thursday. Powell Industries, Inc. has a 1 year low of $92.14 and a 1 year high of $328.00. The company’s fifty day simple moving average is $210.94 and its 200-day simple moving average is $230.72. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.43 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last posted 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 company had revenue of $311.74 million for the quarter, compared to the consensus estimate of $316.70 million. During the same quarter in the previous year, the firm posted $3.96 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts forecast that Powell Industries, Inc. will post 5.36 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders 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 is 6.91%.

About Powell Industries

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.