Galaxy Digital Capital Management GP LLC Lowers Holdings in Powell Industries, Inc. $POWL

Galaxy Digital Capital Management GP LLC lowered its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 58.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,021 shares of the industrial products company’s stock after selling 2,786 shares during the quarter. Powell Industries comprises about 1.2% of Galaxy Digital Capital Management GP LLC’s holdings, making the stock its 20th largest position. Galaxy Digital Capital Management GP LLC’s holdings in Powell Industries were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of POWL. Capital World Investors acquired a new stake in shares of Powell Industries in the fourth quarter worth approximately $20,704,000. Voss Capital LP increased its position in Powell Industries by 18.6% during the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock worth $111,573,000 after purchasing an additional 55,000 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Powell Industries during the fourth quarter worth approximately $2,137,000. Rock Creek Group LP raised its stake in Powell Industries by 1,900.0% during the fourth quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock worth $47,817,000 after purchasing an additional 142,500 shares during the period. Finally, Private Advisory Group LLC raised its stake in Powell Industries by 8.7% during the fourth quarter. Private Advisory Group LLC now owns 35,095 shares of the industrial products company’s stock worth $11,188,000 after purchasing an additional 2,803 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

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

Powell Industries Stock Down 4.2%

Shares of POWL stock opened at $232.21 on Friday. Powell Industries, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $328.00. The firm’s 50 day moving average price is $270.49 and its two-hundred day moving average price is $220.45. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 3.17 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $298.12 million. During the same period in the previous year, the company earned $3.81 EPS. Powell Industries’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts forecast that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

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

Insider Activity

In related news, VP William Marshall Mauney, Jr. sold 2,500 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $323.69, for a total value of $809,225.00. Following the completion of the sale, the vice president directly owned 10,853 shares in the company, valued at approximately $3,513,007.57. This represents a 18.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard E. Williams sold 5,250 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $299.19, for a total value of $1,570,747.50. Following the completion of the transaction, the director directly owned 39,630 shares in the company, valued at $11,856,899.70. This trade represents a 11.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 55,088 shares of company stock worth $16,070,066 in the last quarter. Insiders own 2.20% of the company’s stock.

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.