Northwestern Mutual Wealth Management Co. Raises Position in Powell Industries, Inc. $POWL

Northwestern Mutual Wealth Management Co. boosted its stake in Powell Industries, Inc. (NASDAQ:POWL) by 1,230,312.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 775,160 shares of the industrial products company’s stock after buying an additional 775,097 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.06% of Powell Industries worth $247,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avanza Fonder AB purchased a new position in Powell Industries in the 4th quarter valued at about $30,000. State of Wyoming purchased a new position in Powell Industries in the 2nd quarter valued at about $33,000. First Horizon Corp purchased a new position in Powell Industries in the 4th quarter valued at about $40,000. International Assets Investment Management LLC purchased a new position in Powell Industries in the 4th quarter valued at about $70,000. Finally, Johnson Financial Group Inc. purchased a new position in Powell Industries in the 3rd quarter valued at about $81,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Cantor Fitzgerald raised their price target on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Powell Industries currently has a consensus rating of “Moderate Buy” and an average target price of $236.67.

Powell Industries Price Performance

POWL opened at $292.65 on Friday. The company’s 50 day simple moving average is $222.53 and its two-hundred day simple moving average is $165.60. Powell Industries, Inc. has a 1-year low of $54.75 and a 1-year high of $328.00. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 57.27, a price-to-earnings-growth ratio of 3.82 and a beta of 1.14.

Powell Industries (NASDAQ:POWL) last released its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million during the quarter, compared to analysts’ expectations of $298.12 million. During the same period last year, the business earned $3.81 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is 7.05%.

Insiders Place Their Bets

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $323.69, for a total value of $809,225.00. Following the transaction, the vice president directly owned 10,853 shares of the company’s stock, valued at $3,513,007.57. This trade represents a 18.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael William Metcalf sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total transaction of $1,584,000.00. Following the completion of the transaction, the executive vice president directly owned 83,400 shares in the company, valued at $14,678,400. This trade represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 183,835 shares of company stock worth $32,915,210. 2.20% of the stock is currently owned by insiders.

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.