Powell Industries, Inc. $POWL Position Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 18.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,105 shares of the industrial products company’s stock after buying an additional 12,927 shares during the quarter. Envestnet Asset Management Inc. owned 0.68% of Powell Industries worth $17,279,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. New Vernon Capital Holdings II LLC purchased a new stake in Powell Industries in the 1st quarter worth about $34,554,000. GW&K Investment Management LLC acquired a new stake in Powell Industries during the first quarter valued at $27,984,000. RPG Investment Advisory LLC increased its position in 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. HITE Hedge Asset Management LLC purchased a new stake in shares of Powell Industries during the 1st quarter worth about $16,405,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Powell Industries by 137.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 134,946 shares of the industrial products company’s stock valued at $22,985,000 after buying an additional 78,163 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Trading Up 4.1%

POWL opened at $395.77 on Thursday. The business has a 50 day moving average of $315.55 and a 200-day moving average of $245.10. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.95 and a beta of 0.81. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $413.00.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.73 by $0.23. The firm had revenue of $286.27 million during the quarter, compared to analysts’ expectations of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.79 EPS. Equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th will be given a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is 7.43%.

Insider Transactions at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total value of $955,968.00. Following the completion of the transaction, the executive vice president owned 25,700 shares of the company’s stock, valued at $7,677,618. This represents a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Birchall sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the sale, the director owned 6,700 shares in the company, valued at approximately $1,742,201. This represents a 30.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $312.00.

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.