Raymond James & Associates Acquires New Position in Powell Industries, Inc. (NASDAQ:POWL)

Raymond James & Associates acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 4th quarter, HoldingsChannel reports. The firm acquired 12,276 shares of the industrial products company’s stock, valued at approximately $1,085,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP purchased a new stake in shares of Powell Industries in the 1st quarter valued at approximately $7,698,000. FMR LLC lifted its holdings in Powell Industries by 1,377.9% in the third quarter. FMR LLC now owns 138,597 shares of the industrial products company’s stock valued at $11,490,000 after acquiring an additional 129,219 shares during the last quarter. EAM Investors LLC purchased a new position in Powell Industries in the fourth quarter worth approximately $3,043,000. JPMorgan Chase & Co. grew its position in Powell Industries by 41.4% in the fourth quarter. JPMorgan Chase & Co. now owns 273,290 shares of the industrial products company’s stock worth $9,614,000 after acquiring an additional 79,981 shares during the period. Finally, Millennium Management LLC increased its stake in Powell Industries by 152.5% during the fourth quarter. Millennium Management LLC now owns 124,105 shares of the industrial products company’s stock worth $4,366,000 after acquiring an additional 74,955 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Powell Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total value of $871,900.00. Following the completion of the transaction, the insider now owns 1,688,628 shares in the company, valued at $294,462,950.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Thomas W. Powell sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $167.46, for a total value of $1,674,600.00. Following the sale, the insider now owns 1,703,628 shares of the company’s stock, valued at $285,289,544.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total transaction of $871,900.00. Following the transaction, the insider now owns 1,688,628 shares of the company’s stock, valued at approximately $294,462,950.64. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock worth $4,850,830 in the last ninety days. 2.20% of the stock is owned by corporate insiders.

Powell Industries Price Performance

NASDAQ POWL opened at $130.34 on Monday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 20.46, a PEG ratio of 1.23 and a beta of 0.79. The firm’s 50-day moving average is $148.81 and its two-hundred day moving average is $108.81. Powell Industries, Inc. has a 12 month low of $38.91 and a 12 month high of $197.87.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.00 by $0.98. The business had revenue of $194.00 million during the quarter, compared to analyst estimates of $182.04 million. Powell Industries had a return on equity of 22.30% and a net margin of 10.10%. The company’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period last year, the business posted $0.10 earnings per share. As a group, analysts anticipate that Powell Industries, Inc. will post 7.54 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, February 14th were paid a dividend of $0.262 per share. This represents a $1.05 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Tuesday, February 13th. Powell Industries’s payout ratio is currently 16.64%.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.