Horizon Investment Services LLC Makes New Investment in Powell Industries, Inc. $POWL

Horizon Investment Services LLC bought a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, HoldingsChannel reports. The firm bought 7,684 shares of the industrial products company’s stock, valued at approximately $2,200,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Powell Industries by 1,230,312.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock worth $247,106,000 after acquiring an additional 775,097 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Powell Industries in the second quarter valued at about $60,389,000. Tema ETFs LLC increased its position in Powell Industries by 217.3% during the second quarter. Tema ETFs LLC now owns 268,692 shares of the industrial products company’s stock worth $76,943,000 after purchasing an additional 184,010 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Powell Industries during the third quarter worth about $43,515,000. Finally, Rock Creek Group LP increased its position 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 last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Price Performance

NASDAQ POWL opened at $213.48 on Monday. The stock has a market capitalization of $7.78 billion, a P/E ratio of 40.98, a PEG ratio of 2.84 and a beta of 1.18. The firm’s 50-day moving average is $247.73 and its two-hundred day moving average is $229.09. Powell Industries, Inc. has a 12 month low of $78.50 and a 12 month high of $328.00.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. Powell Industries’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.96 earnings per share. As a group, analysts anticipate that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is presently 6.91%.

Analysts Set New Price Targets

Several equities analysts have weighed in on POWL shares. JPMorgan Chase & Co. boosted their target price on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Cantor Fitzgerald reduced their price target on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research report on Friday. 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, Weiss Ratings lowered Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Two investment 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $215.42.

Insider Activity at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 78,900 shares in the company, valued at $22,458,096. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Alan Cope sold 4,440 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the transaction, the chief executive officer owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. This represents 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. In the last quarter, insiders sold 42,898 shares of company stock worth $12,353,653. 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.