Archon Capital Management LLC Has $2.67 Million Position in Powell Industries, Inc. $POWL

Archon Capital Management LLC boosted its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 218.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,700 shares of the industrial products company’s stock after acquiring an additional 8,708 shares during the quarter. Powell Industries accounts for about 2.2% of Archon Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Archon Capital Management LLC owned about 0.11% of Powell Industries worth $2,673,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its stake in shares of Powell Industries by 69.9% in the 2nd quarter. Truist Financial Corp now owns 10,522 shares of the industrial products company’s stock valued at $2,214,000 after purchasing an additional 4,329 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Powell Industries by 1,010.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 42,607 shares of the industrial products company’s stock valued at $8,949,000 after buying an additional 38,769 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Powell Industries by 18.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 82,105 shares of the industrial products company’s stock valued at $17,279,000 after buying an additional 12,927 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Powell Industries in the second quarter valued at $3,182,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Powell Industries in the second quarter valued at $242,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on POWL. Roth Capital reissued a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Wall Street Zen upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Powell Industries in a research report on Monday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $331.00.

Insider Activity

In other news, EVP Michael William Metcalf sold 3,200 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is owned by company insiders.

Powell Industries Trading Up 4.2%

Shares of NASDAQ POWL opened at $336.93 on Friday. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $413.00. The company has a 50-day moving average of $334.33 and a two-hundred day moving average of $265.81. The company has a market cap of $4.07 billion, a PE ratio of 22.69, a P/E/G ratio of 1.51 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.46. Powell Industries had a net margin of 16.37% and a return on equity of 31.80%. The business had revenue of $297.98 million during the quarter, compared to analyst estimates of $292.85 million. During the same quarter last year, the business posted $3.77 earnings per share. Powell Industries’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be given a dividend of $0.2675 per share. The ex-dividend date is Wednesday, November 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.3%. Powell Industries’s payout ratio is presently 7.21%.

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.