Powell Industries, Inc. $POWL Stock Position Lifted by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 16.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,100 shares of the industrial products company’s stock after buying an additional 300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Powell Industries were worth $442,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Powell Industries by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company’s stock worth $118,871,000 after buying an additional 9,829 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Powell Industries by 4.1% in the 1st quarter. Invesco Ltd. now owns 275,979 shares of the industrial products company’s stock worth $47,008,000 after purchasing an additional 10,840 shares during the last quarter. New Vernon Capital Holdings II LLC bought a new stake in shares of Powell Industries in the 1st quarter worth approximately $34,554,000. GW&K Investment Management LLC bought a new stake in shares of Powell Industries in the 1st quarter worth approximately $27,984,000. Finally, RPG Investment Advisory LLC lifted its holdings in shares of Powell Industries by 342.4% in the 1st quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company’s stock worth $26,252,000 after purchasing an additional 119,289 shares during the last quarter. Institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In other news, Director John Birchall sold 3,000 shares of Powell Industries stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following the transaction, the director directly owned 6,700 shares in the company, valued at approximately $1,742,201. This trade represents a 30.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael William Metcalf sold 3,200 shares of Powell Industries stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total value of $955,968.00. Following the transaction, the executive vice president owned 25,700 shares in the company, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings raised Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $312.00.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $330.71 on Friday. The business’s fifty day moving average price is $286.62 and its two-hundred day moving average price is $226.44. The company has a market capitalization of $3.99 billion, a P/E ratio of 22.97, a PEG ratio of 1.58 and a beta of 0.82. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $364.98.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.23. The firm had revenue of $286.27 million for the quarter, compared to the consensus estimate of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.79 EPS. On average, research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.07 annualized dividend and a yield of 0.3%. Powell Industries’s payout ratio is presently 7.43%.

Powell Industries 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.